Binance Receives DASP Registration In France As Changpeng Zhao Continues To Work Alongside Regulators

The AMF (Autorité des marchés financiers) has officially provided Binance France a DASP (Digital Asset Service Provider) registration, with the consent of the ACPR (Autorité de Contrôle Prudentiel et de Résolution).

This achievement marks Binances first DASP in Europe and reflects the exchanges dedication to becoming a compliance-first global exchange, which is also in line with CEO Changpeng Zhaos previous comments wherein he declared that it would be in everyones best interests if Binance and various regulatory authorities were to work together going forward.

A big win for Binance

The exchange has been granted permission to offer trading and custody services for Bitcoin (BTC), Ethereum (ETH), and numerous other cryptocurrencies now that it is classified as a registered DASP by the French stock market watchdog AMF.

Compliance and regulation are crucial success factors for the crypto and blockchain sector. Binance has thus made steps to assure compliance over the years, including expanding its global compliance staff and advisory board, in addition to actively assisting in the battle against fraudulent activities, ransomware and hacks. Binance is hence glad that the exchanges efforts seem to have paid off, and that the team went through tough French compliance criteria in order to receive DASP certification which Changpeng Zhao believes is necessary for the survival of this industry.

What&rsquos next?

Binance once took pride in the fact that it had no official headquarters. However, following a backlash from authorities in a number of countries, including the United Kingdom, Italy, and Singapore last year, the exchange is now attempting to reach an agreement with regulators instead. To that end, Changpeng Zhao previously stated that the company intends to build its European headquarters in Paris.

Lastly, Binance will considerably expand its activities in France in order to make cryptocurrency trading and other related services increasingly accessible to everyone. Keeping in line with the overall objective to be the main framework services provider for the blockchain ecosystem, the Binance team wants to continuously grow their global workforce in order to pursue additional infrastructure development for the foreseeable future.

Elsewhere, Binance recently made headlines when it was revealed that the exchange shall be backing Elon Musk&rsquos Twitter takeover alongside others such as Sequoia Capital.