Crypto exchange Binance has received a regulatory license from the Autorité des Marchés Financiers (AMF), France’s financial market regulator, in a move to expand its operations in Europe.
Binance will now operate under the name “Binance SAS” and is expected to open an office in Paris, France. The company has also confirmed that it will continue to offer services to European customers through its existing platform and mobile app.
The license comes just days after it was forced to change venues for its upcoming Malta Blockchain Summit due to “current regulatory uncertainty” in the country. The cryptocurrency exchange had announced last week that it would relocate the event to Hong Kong due to Malta’s new Virtual Financial Assets Act (VFA) which came into effect on July 1, 2019.
Blockchain technology and the cryptocurrency
The cryptocurrency exchange had announced last week that it would relocate the event to Hong Kong due to Malta’s new Virtual Financial Assets Act (VFA) which came into effect on July 1, 2019.
Binance will now operate under the name “Binance SAS”
Binance will now operate under the name “Binance SAS” and is expected to open an office in Paris, France. The company has also confirmed that it will continue to offer services to European customers through its existing platform and mobile app.
We are excited to announce that it has been acquired and subsequently moved to a friendlier jurisdiction. We have seen this community grow and thrive over the past several months and we’re happy to take on new leadership in Malta, one of the friendliest blockchain islands in the world.
Crypto exchange Binance, which is based in Hong Kong, has announced that it will relocate its headquarters to the French island of Malta. This move comes as a result of the upcoming legislation due to be passed by the Japanese government.
The latest turn of events has reaffirmed Binance’s commitment to establishing itself as a leading cryptocurrency trading platform across the globe.
Binance’s interest in setting up a base in Paris
Bank of France Governor Francois Villeroy de Galhau had previously touted Binance’s interest in setting up a base in Paris.
Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, and Info. it Exchange is one of the fastest-growing and most popular cryptocurrency exchanges in the world. Founded by a team of fintech and crypto experts — it is capable of processing more than 1.4 million orders per second, making it one of the fastest exchanges in the market. The platform focuses on security, robustness, and execution speed — attracting enthusiasts and professional traders alike.
Binance should open its office in Paris because of the overwhelming support from France
“France is very committed to being the blockchain nation and to being one of the crypto-nations, and we at Binance want to be part of that,” Zhao said.
It is also considering a platform for trading digital shares of traditional companies, Zhao said last month.
It is a great cryptocurrency exchange that has made it easier than ever for people to trade.
Their business has grown to exceed 500 million dollars in volume a day
Binance CEO Changpeng Zhao: “I am very confident that we are going to do another hard fork at the end of this year or early next year. It’s definitely going to happen”
Binance is determined to make sure that Bitcoin Cash will become a better cryptocurrency than Bitcoin. The company plans to make BCH more useful for businesses and real-life transactions, which in turn will attract more customers to BCH. Binance CEO Changpeng Zhao has expressed his opinion on the future of BCH by stating: “Bitcoin Cash is very likely to have another hard fork upgrade in November, the end of this year, or early next year.” He also said that the exchange plans to bring more features and protocols so users can benefit from them.
Moreover, the exchange will be adding two new trading pairs for BCH over the coming weeks. This addition is anticipated to boost BCH volumes and liquidity on the platform. Users will be able to trade BCH against fiat currencies including BCF (Binance Coin), which is a token issued by itself, and USD Coin (USDC).
Binance obtained a digital-asset service provider registration
Binance obtained a digital-asset service provider registration, the Paris-based markets authority AMF said on its website, confirming an earlier Bloomberg report. The regulatory nod will help boost the company’s ambitions in Europe and marks the exchange’s first major approval from a G-7 member nation.
The company had previously touted Binance’s interest in setting up a base in Paris
Bank of France Governor Francois Villeroy de Galhau had previously touted Binance’s interest in setting up a base in Paris, and the firm’s co-founder and chief executive officer Changpeng “CZ” Zhao lauded the country as one of the “pro-crypto” jurisdictions.
Paris – In a friendly tone, Paris city councilor Ian Brossat has congratulated the crypto exchange Binance on its latest expansion efforts. The company is reported to be planning to open an office in the French capital this year.
The exchange will notably take over the sixth floor of a commercial building on the Rue du Faubourg Saint-Honoré in Paris. The famous street, which boasts houses Balmain and Valentino among others, runs parallel to and just a few blocks away from Rue du Faubourg Saint-Antoine, a major artery where cryptocurrency ATM operator Bit2C has set up shop last month.
Binance is one of the world’s largest crypto exchanges with about 10 million users around the globe. It had announced that it was seeking to open a base in Malta after receiving “positive guidance” from the government of this island country. Malta is said to have become crypto-friendly through its work led by Joseph Muscat, Prime Minister of Malta and leader of the Maltese Labor Party (PL).
Speaking at Paris Blockchain Week.
Last month, Zhao spoke at Paris Blockchain Week and Binance confirmed a 100-million-euro ($105 million) investment into the nation’s blockchain ecosystem.
The cryptocurrency economy is becoming a legit industry in the eyes of regulators across the globe!
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