Cryptocurrency Exchange Binance Registers With France’s Market Regulator

In March, Binance obtained licenses from Dubai and Bahrain.

London/Paris:

Cryptocurrency exchange Binance has registered with France’s market regulator, Chief Executive Officer Changpeng Zhao said in a tweet on Wednesday, furthering the company’s plan to make Paris its European base.

“It is a real stamp of quality,” said David Prinsé, General Manager of Binance France, referring to the registration with the regulator, AMF.

“Perception is changing. This allows us to … to a new stage, which is educating (the French public) of blockchain.”

Blockchain is a shared record of information maintained and updated by a computer network rather than by a central authority. Major cryptocurrencies like bitcoin rely on technology.

Prinsé added that Binance France is now seeking a formal license from the French markets regulator to open a regional headquarters in France. Binance claimed that it was the top cryptocurrency exchange in the country even before its registration.

Prins said that France is the first EU country to register Binance, which is also seeking registration in Switzerland, Sweden, Spain, the Netherlands, Portugal and Austria.

In March, Binance obtained licenses from Dubai and Bahrain.

Last year, Binance received warnings from over a dozen national regulators, including Germany, Italy and the UK. Some said it was operating without a license in their jurisdiction.

The Binance CEO, known by his initials “CZ”, last month pledged to invest 100 million euros ($105.51 million) in France and said he would be looking to restore a room at the Chateau de Versailles. will give a grant of 2 million euros for He also tweeted in support of the re-election candidacy of French President Emmanuel Macron.

Since its 2017 launch in Shanghai, Binance has aggressively expanded around the world.

A Reuters investigation published last month revealed that in Russia, where Binance dominates the crypto market, the exchange expanded its business by building ties with Russian government agencies.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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