Binance CEO Changpeng Zhao made a report at a crypto industry event in Paris in April 2022 to debut a new accelerator program for so-called “Web3” startups.
Benjamin Giret Bloomberg | Getty Images
Binance has received permission from regulators to operate its cryptocurrency exchange in France.
The company is included in the list of registered digital asset service providers of the French stock market AMF, which allows it to offer services for trading and storage of bitcoins and other cryptocurrencies.
Binance is the largest crypto exchange in the world. According to CoinGecko, the company handles spot trading of more than $ 14 billion and nearly $ 50 billion in derivatives in a single day.
The move makes France the first major European country to give Binance the green light. The company is controlled in Lithuania by the country’s anti-money laundering regulators, and is seeking registration with the Swedish Financial Control Authority.
Binance has no official headquarters, and was once proud of that fact. But now the company is seeking to reconcile with regulators following last year’s reaction from the authorities of many countries, including the UK, Italy and Singapore. Changpeng Zhao, CEO and founder of Binance, told CNBC last month that the company plans to set up its European base in Paris.
Recently, Binance has sought to incorporate charm in France.
Zhao made a presentation at a crypto industry event in Paris last month to debut a new accelerator program for so-called “Web3” startups. The firm has also pledged to invest 100 million euros ($ 105 million) in the country.
The billionaire CEO Binance described France as “very progressive” in adopting the crypt.
“In our dealings with them, they are much more advanced in their understanding, and they are also much more progressive in their attitudes,” he told CNBC.
“France is a very strict regulator. But they have an advanced understanding for that.”