Fun

Binance Obtains Registration as Crypto Service Provider in Cyprus

News Feed - 2022-10-22 05:10:50

Binance Obtains Registration as Crypto Service Provider in Cyprus


Cryptocurrency exchange Binance will be able to offer services for digital assets in Cyprus as the platform is now registered with the country’s securities regulator. The news comes after the company obtained similar approvals in several other European jurisdictions. Global Exchange Binance to Comply With Cyprus Crypto Regulations


Binance, the world’s leading crypto exchange in terms of daily trading volume, has received regulatory authorization in Cyprus. Its local entity, Binance Cyprus Limited, was granted Class 3 registration as a Crypto Asset Services Provider (CASP), the trading platform announced Thursday.


The regulatory approval issued by the Cyprus Securities and Exchange Commission (CYSEC) will allow Binance to offer spot, custodian, staking, and card services, in compliance with the CYSEC’s anti-money laundering and counter-terrorist financing (AML/CTF) requirements.


In a press release, the exchange noted that this is another milestone in its regulatory efforts in Europe and follows similar registrations for Binance’s local entities in France, Italy and Spain. Commenting on the development, Binance founder and CEO Changpeng Zhao (CZ) stated: Binance has some of the most thorough AML and CTF compliance policies in the industry. Recognition of the efforts we have made to be on the leading edge of compliance that our registration in Cyprus represents is testament to that.


Zhao also insisted that effective regulation that protects users and stimulates innovation is essential to the continued growth of the crypto industry.


Binance’s Executive Vice President Europe Martin Bruncko described the registration as an important step in the platform’s European growth and a sign of commitment to the region. “We look forward to building out our local team in Cyprus and helping to develop the local crypto ecosystem,” he added.


As part of its European expansion, last month Binance announced it’s opening an office in Romania. “We want to go global by playing locally in multiple markets,” CZ said during a visit to the capital Bucharest. “I think Eastern Europe is extremely important,” he emphasized. Tags in this story AML, approval, authorization, Binance, CASP, Crypto, crypto assets, crypto exchange, crypto services, Cryptocurrencies, Cryptocurrency, Cyprus, Exchange, Exchanges, registration, regulations rules, securities commission, service provider, Services


Do you expect Binance to seek and obtain regulatory approvals in other European jurisdictions? Let us know in the comments section below. Lubomir Tassev


Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. Fidelity"s Crypto Platform Prepares to Start Offering Ethereum Trading Next Week EXCHANGES | 8 hours ago Brazil-Based Neobank Nubank to Launch Own Cryptocurrency as Part of Loyalty Program EXCHANGES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTether and Smartpay to Offer USDT at More Than 24,000 ATMs in Brazil Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto

News Feed

Crypto Liquidations Cross $2.22 Billion, Here’s How Much Dogecoin Traders Lost
Este artículo también está disponible en español. The entire cryptocurrency market has experienced a steep decline over the past 24 hours, with its total market cap plung
Ethereum price drops 20% in a week, but investors are still bullish
Marcel Pechman4 hours agoEthereum price drops 20% in a week, but investors are still bullishETH price fell by 20% in the past week, but futures data shows investors still believe in the bull trend.4644 Total views137 Tot
Bitcoin Price Outlook for June — Market Conditions Show Uncertainty
Bitcoin Price Outlook for June — Market Conditions Show Uncertainty Ten days into June, bitcoin continues to trade lower, with prices hovering close to a twelve-month low. Despi
Tech firms pen letter to EU requesting more time to comply with AI Act
Savannah Fortis11 hours agoTech firms pen letter to EU requesting more time to comply with AI ActTech companies release a joint letter requesting more time from the EU to comply with AI Act requirements, citing challenge
Ex-Binance CEO Changpeng Zhao sentenced to four months in prison
Turner Wright4 hours agoEx-Binance CEO Changpeng Zhao sentenced to four months in prisonChangpeng Zhao, also known as CZ, pleaded guilty in November to violating U.S. money laundering laws and had been free to travel in
Canada lacks engagement from lawmakers on crypto — Coinbase exec
Turner Wright3 hours agoCanada lacks engagement from lawmakers on crypto — Coinbase execThe Canada country director for Coinbase said local regulators were “much more collaborative” with the industry than their U.S
Bitcoin Ascends in New Crypto Ranking by State-Backed Chinese Institute
Bitcoin Ascends in New Crypto Ranking by State-Backed Chinese Institute China’s Center for Information and Industry Development (CCID), under the country&r
Japan’s Financial Giant SBI to Launch Cryptocurrency Fund
Japan"s Financial Giant SBI to Launch Cryptocurrency Fund Japanese financial conglomerate SBI Holdings is reportedly launching a crypto fund that will invest in several cryptocurre
Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin
Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurre
Solana’s Crypto and Web3 Smartphone ‘Saga’ Available to the General Public on May 8
Solana"s Crypto and Web3 Smartphone ‘Saga’ Available to the General Public on May 8 Solana’s cryptocurrency and Web3 smartphone, Saga, will be available for purchase on M
Yashu Gola11 hours agoWarren Buffett’s ‘crypto stock’ beats Apple and Amazon — but not BitcoinBuffett’s bet on crypto-friendly Nubank has put Berkshire Hathaway $130 million in profit already this year.6575 Tot
A Tor-Integrated Cashfusion Build for Bitcoin Cash Is Coming
A Tor-Integrated Cashfusion Build for Bitcoin Cash Is Coming On Monday, Electron Cash developer Jonald Fyookball updated the Bitcoin Cash (BCH) community in regards to the Cashfu