{"id":47081,"date":"2022-05-05T13:21:21","date_gmt":"2022-05-05T11:21:21","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=47081"},"modified":"2022-05-05T13:21:21","modified_gmt":"2022-05-05T11:21:21","slug":"binance-lands-in-france-as-a-digital-asset-service-provider-dasp","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/binance-lands-in-france-as-a-digital-asset-service-provider-dasp\/","title":{"rendered":"Binance Lands in France as a Digital Asset Service Provider (DASP)"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\"><strong>Binance<\/strong> reported important news announcing it&#8217;s now a <strong>fully regulated digital asset service provider in France.<\/strong><\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The announcement first came in a tweet <\/span><span style=\"font-weight: 400\">saying<\/span><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bonjour! <a href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@cz_binance<\/a> has some fantastic news to share. <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Binance<\/a> is now a fully regulated digital asset service provider in France!\ud83c\uddeb\ud83c\uddf7 <a href=\"https:\/\/t.co\/W5DrhFqvjl\" target=\"_blank\">pic.twitter.com\/W5DrhFqvjl<\/a><\/p>\n<p>&mdash; Binance (@binance) <a href=\"https:\/\/twitter.com\/binance\/status\/1521890242495754240?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">&#8220;Bonjour! @cz_binancehas some fantastic news to share. #Binance is now a fully regulated digital asset service provider in France!\ud83c\uddeb\ud83c\uddf7\u2026 #Binance has been granted a Digital Asset Service Provider (DASP) registration to operate in France by Autorit\u00e9 des march\u00e9s financiers (AMF), which regulates the French financial markets.&#8221;<\/span><\/em><\/p>\n<h2 style=\"text-align: justify\"><span style=\"font-weight: 400\">Binance&#8217;s Hub in Europe<\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">In Europe, this is the first DASP by Binance. French financial markets are regulated by the AMF, which ensures financial literacy among investors. French insurance and banking companies are regulated by the <strong>ACPR<\/strong>. Under the approval and supervision of AMF and ACPR, Binance France will be able to operate in France with this DASP registration.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Changpeng Zhao (CZ), founder and CEO of Binance, <\/span><a href=\"https:\/\/www.binance.com\/en\/blog\/markets\/binance-is-now-a-fully-regulated-digital-asset-service-provider-in-france-421499824684903809?ref=AZTKZ9XS&amp;utm_source=BinanceTwitter&amp;utm_medium=GlobalSocial&amp;utm_campaign=GlobalSocial\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">said<\/span><\/a><span style=\"font-weight: 400\">:\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><em><span style=\"font-weight: 400\">&#8220;Effective regulation is essential for the mainstream adoption of cryptocurrency. The French DASP and AML\/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France.&#8221;<\/span><\/em><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Paris will serve as Binance&#8217;s European hub now that France&#8217;s financial markets regulator has granted the company permission to market its services locally. Despite operating a global trading website, Binance has operated without an official headquarters and is unregistered in many countries.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-47083 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/1_cz.jpg\" alt=\"Binance\" width=\"699\" height=\"387\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">In France, regulators vetted <strong>Binance&#8217;s policies for know-your-customer (<a href=\"https:\/\/crypto-economy.com\/binance-us-to-launch-in-a-few-weeks-with-stringent-kyc-measures\/\" target=\"_blank\" rel=\"noopener\">KYC<\/a>) and anti-money-laundering<\/strong> (<strong>AML<\/strong>). Binance was granted registration approval after nearly a <\/span><a href=\"https:\/\/www.wsj.com\/articles\/binance-picks-paris-to-be-regional-hub-in-europe-11651686826?mod=rss_markets_main\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">year and a half of delays<\/span><\/a><span style=\"font-weight: 400\">. As of Wednesday, France&#8217;s financial regulator, commonly known as AMF, has added Binance to its list of registered digital asset service providers.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">French President <strong>Emmanuel Macron<\/strong> has pledged to make France a startup nation as part of an effort to turn Paris into a European tech hub rivaling London. By providing tax incentives, France lured bankers from the British capital after the UK voted to leave the European Union in 2016.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">According to <strong>Mr. Zhao<\/strong>, France had not offered any sweeteners, and Binance had not inquired. A room at the <strong>Chateau de Versailles<\/strong> was restored with a $2 million grant from the exchange last year. Besides, Binance announced to invest of some <strong>$100 million<\/strong> in the development of crypto-technology in France.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">To <strong>enhance the accessibility of crypto and our services in France<\/strong>, Binance will be scaling operations there substantially. The company plans to <strong>expand its staff in order to work on further infrastructure development<\/strong> in that region as part of its mission to serve as an infrastructure service provider for the <a href=\"https:\/\/crypto-economy.com\/the-blockchain-system-how-cryptocurrency-has-evolved\/\" target=\"_blank\" rel=\"noopener\">blockchain ecosystem<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance reported important news announcing it&#8217;s now a fully regulated digital asset service provider in France.<\/p>\n","protected":false},"author":13,"featured_media":47082,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4601,5437,4697],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47081"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=47081"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47081\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/47082"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=47081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=47081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=47081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}