Does not hold a crypto service provider license wants. But at Binance, with around 100 million users, this kind of convenience is rarely denied. Right now the most popular exchange in the world is registered in more than 18 countries. Because that very day, El Salvador opened its doors wide to him.
Binance successfully lands in El Salvador
In a recent tweet, David Prinçay did not hide his joy after the announcement of this good news. According to the president of the French subsidiary of the crypto giant, Binance is the first cryptocurrency exchange to benefit from such administrative convenience.
” Binance is registered in 18 markets worldwide, more than any other exchange, including France, Italy, Spain, Sweden and Dubai “, he had specified.
” Binance is pleased to announce that it has become the first fully licensed crypto exchange in El Salvador.
Let’s continue to make crypto more accessible. »
Apparently, the barons of Binance couldn’t contain their joy when they learned that their company now has these two types of license:
- License Bitcoin Services Provider (BSP)or Bitcoin Service Provider, assigned by Banco Central de Reserva;
- and the non-provisional license Digital Assets Services Provider (DASP)or digital asset service provider, from the Comisión Nacional de Activos Digitales.
According to Min Lin, Binance’s Head of Latin America:
” We are honored to obtain this license, because Binance continues to work with regulators around the world to support global crypto and blockchain industry standards. This announcement comes after many months of dedication by our team to provide all the information and perform the necessary due diligence required by agencies, which shows our commitment to the Salvadoran market and our users. We are grateful to the Central Reserve Bank and the National Digital Assets Commission. Their adoption of blockchain technology has created a flourishing sector in El Salvador which proves that safety and innovation are complementary assets. Now it joins countries around the world that have granted Binance a regulatory license “, can we read on the website of the crypto giant.
El Salvador, ahead with bitcoin, but…
We are aware that El Salvador is the first country to legalize bitcoin. This took place on September 7, 2021 under the impetus of a bold president named Nayib Bukele.
Since then, things have changed in the country. The powers that be have started making new friends, including hosting a BTC-style Bretton Woods summit in mid-2022.
N. Bukele continued to bet on the queen of cryptocurrencies by buying regularly. Bloomberg estimates that the country currently holds 2,546 BTC. Or nearly 76 million dollars if we refer to the current price of the crypto-flagship.
But the 42-year-old president does not think he will stop there. Against all odds (criticism from skeptics, institutions like the IMF and bear market, etc.), he chose to move forward. Granted, his grandiose projects like “Volcano Bonds” and “Bitcoin City” have been delayed, but Bukele continues to believe in them.
Licensing Binance seems a bit late. Moreover, El Salvador has already issued one to Bitfinex last April. This crypto company gloated at the idea of holding the first Salvadoran DASP license.
For the CZ cryptocurrency exchange, this dual license will allow it to deploy quickly in a country where bitcoin is like a lucky charm.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
