Having obtained two different licenses from El Salvador, Binance has expanded its licensed services to 18 regions.
Binance received two licenses from El Salvador. According to the news during the day, Binance took steps to strengthen its operations in El Salvador.
The Central Bank of El Salvador has granted Binance a Bitcoin Service Provider (BSP) license. In addition, the Salvadoran National Digital Assets Commission has also granted Binance a Digital Asset Service Provider license (DASP). These two licenses increased the strength of the exchange in the region.
Binance becomes the first fully licensed crypto exchange in El Salvador
Binance is licensed by the Central Bank of El Salvador and the National Digital Assets Commission of Salvador. One of the exchange’s two licenses offers non-temporary entitlements, making Binance the first fully licensed crypto exchange in the country.
Binance CEO CZ confirmed this news with his post on the social media platform. CZ shared Binance’s blog post. CZ stated that they are the first fully licensed crypto exchange in El Salvador and will continue to develop.
https://twitter.com/cz_binance/status/1688919529399992320
Making a statement on the subject, Binance Latin America President Min Lin said;
We are honored to receive this license as Binance continues to work in collaboration with regulatory bodies around the world to support global standards for the crypto and blockchain industry. This announcement comes after months of dedicated work by our team to provide all the information and due diligence required by the agencies and demonstrates our commitment to the Salvadoran market and our users. We are grateful to the Central Bank and the National Digital Assets Commission. The adoption of blockchain technology has created a thriving industry in El Salvador where security and innovation are proving to be complementary assets. It now joins countries around the world that have issued regulatory licenses to Binance.
With the license obtained in El Salvador, the company continues its activities under license in 18 markets.
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