Leading cryptocurrency exchange Binance has announced that it has obtained a Digital Asset Service Provider (CASP) license from the regulatory agency of Southern Cyprus. This is the fourth European country where Binance has been approved to serve.
Binance has received another comprehensive approval from Southern Cyprus, where it currently maintains its services. With this approval, Binance has become a licensed service provider in the fourth European country. CASP designation provided by Cyprus, Binance’s bids in the country at a level that will allow provides regulatory legitimacy.
Following in the footsteps of rival cryptocurrency exchange FTX, which set up a Cyprus headquarters in March, Binance is now under the jurisdiction of the Cyprus Securities and Exchange Commission. (CySEC) in accordance with money laundering and counter-terrorism financing spot, staking and card services is allowed to present.
Binance had previously acquired similar rights from France, Spain and Italy. Binance CEO Chanpeng Zhao (CZ) made the following statements in his announcement about the development:
Binance has some of the most comprehensive AML and CTF compliance policies in the industry. “The recognition of our efforts to be at the forefront of the harmony represented by our record in Cyprus is testament to this. Effective regulations that protect users and encourage innovation are essential to the continued growth of our industry.