Cyprus is the fourth European nation to authorize registration for the Binance cryptocurrency exchange, the business stated Thursday.
The financial regulatory agency of Cyprus has approved Binance’s registration as a Crypto Asset Services Provider, the business stated in a statement on Thursday.
Following France, Italy, and Spain, this is the fourth European nation where Binance has received regulatory permission.
The Cypriot license allows Binance to deliver its services while adhering to the Cyprus Securities and Exchange Commission’s anti-money laundering and counter-terrorist financing regulations.
Binance has some of the most stringent AML and CTF compliance rules in the business, according to Changpeng Zhao, founder and CEO of Binance. It is a credit to the efforts we have taken to be at the forefront of compliance that we have chosen to register in Cyprus. Our sector can’t advance without user protections and innovation incentives that are properly regulated,” he said.
Binance is receiving an increasing number of national registrations globally. Recent clearance was granted in New Zealand in early October.
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