Binance Receives its First European Licence in France

Binance has been registered as a digital asset service provider (DASP) with France's Autorité des marchés financiers (AMF), according to the financial market watchdog.

Binance will be able to offer digital asset custody services and run a trading platform for buying and selling cryptocurrencies in France as a result of the registration.

According to Binance, this is the company's first DASP approval from European regulators.

Following the permission, Binance's founder and CEO, Changpeng Zhao, gave a media interview on Twitter in which he stated that the company would make Paris its European base.

Binance has been registered in France for the first time, and it is also seeking registration in Switzerland, Sweden, Spain, the Netherlands, Portugal, and Austria, according to Prinçay.

Binance received licence from Dubai and Bahrain in March.

More than a dozen national regulators, including those in Germany, Italy, and the United Kingdom, issued warnings to Binance last year. It was operating without a licence in several jurisdictions.

Binance's CEO, who goes by the initials "CZ," announced last month that he would invest 100 million euros ($105.51 million) in France and donate 2 million euros to the renovation of a room at the Chateau de Versailles. He also endorsed French President Emmanuel Macron's re-election effort on Twitter.

Binance has actively extended its global presence since its inception in Shanghai in 2017.