Binance CEO Changpen Zhao delivered a keynote address at an event in the crypto industry in Paris in April 2022 to debut a new acceleration program for so-called Web3 startups.
Benjamin Giret Bloomberg | Getty Images
Binance has received approval from regulators to operate its cryptocurrency exchange in France.
The company is now listed as a registered provider of digital asset services by the French stock exchange supervisor AMF, which allows it to offer trading and custody services for bitcoin and other cryptocurrencies.
Binance is the largest crypto exchange in the world. The company handles spot trading volumes of more than $ 14 billion and nearly $ 50 billion in derivatives in one day, according to data from CoinGecko.
This move makes France the first major European nation to give the green light to Binance. The company is controlled in Lithuania by anti-money laundering regulators and is also seeking registration with the Swedish Financial Supervision Authority.
Binance has no official headquarters and was once proud of that fact. But the company is now seeking peace with regulators following a backlash last year from authorities in many countries, including the United Kingdom, Italy and Singapore. Changpen Zhao, CEO and founder of Binance, told CNBC last month that the company plans to set up its European base in Paris.
Binance has been trying to incorporate the charm of France lately.
Zhao delivered a keynote address at an event in the crypto industry in Paris last month to debut a new acceleration program for so-called Web3 startups. The company is also committed to investing 100m euros ($ 105m) in the country.
of Binance billionaire CEO describes France as “very progressive” in adopting cryptocurrencies.
“In our dealings with them, they are much more advanced in their understanding and are also much more progressive in their attitudes,” he told CNBC.
“France is a very strict regulator. But they have an advanced understanding of it.”