Binance Obtains AMF Registration

Binance obtains the sesame from the Financial Markets Authority. After lengthy negotiations, the AMF granted the world’s first cryptocurrency exchange the registration as a digital asset service provider (PSAN). The information was published this Wednesday on the AMF website, which added Binance to the list of 36 other players in the crypto sector regulated on French soil. With this registration in France, the platform also obtains its first visa from a European regulator.

“It is a decisive step for Binance’s activities in France and Europe which has been taken with this registration which proves our seriousness and our desire to comply with international regulators” rejoices David Princay, the general manager in France. of the platform. “Binance France is looking forward to expanding its business with the French ecosystem,” said Changpeng Zhao, CEO of the company, in a video message posted on Twitter.

In the sights of several regulatory authorities on its anti-money laundering compliance, Binance was awaiting this registration. The platform needed it to attest to its legitimacy. Registration with the AMF notably validates its compliance with French regulations in this area.

” Education “

PSANs appeared in French law as part of the Pacte law passed in 2019 and sets a framework for players in the crypto-asset sector. Companies wishing to exercise the activity of custody of digital assets on behalf of third parties or purchase or sale of digital assets against a legal tender currency must register with the AMF.

Nothing previously prevented it from exercising its activities in France, but it did not have the right to communicate directly for this country. The sesame thus opens the possibility for Binance to deploy marketing and commercial operations on French soil. “We want to implement a program to educate professionals and individuals to better understand our ecosystem and cryptoassets,” explains the French CEO.

Binance’s management in France clarified that this should not change anything for its French customers, but that new offers could be launched soon.

Invest in France

The group has also announced that this registration will allow it to “significantly expand its operations in France” with “the intention of recruiting up to 250 people focused on the development of cryptocurrency and blockchain infrastructures”.

Binance recently announced the launch of its project called “Objectif Lune” with an envelope of 100 million euros intended for France to “make the country the heart of the European crypto community”.

The group has, in this context, announced its installation in the premises of Station F to develop an incubator there, in particular for start-ups operating in Web3. “It’s the start of a great adventure with France and with this approval we want to show our legitimacy to manage an ecosystem” concludes the French boss of Binance.

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