Binance Continues Its Rapid Regulatory Expansion

The cryptocurrency exchange seeks to continue expanding its partnerships and offerings across the globe after the latest partnerships.

Global Hegemony

The largest global cryptocurrency exchange, Binance, continues its regulatory expansion as it seeks to solidify operations in new homes. 

Binance has been active since the start of 2022, securing licenses, regulatory approvals, memorandums of understanding (MOU), and so forth across multiple continents. In a race for global hegemony in the crypto space, competing against other exchanges like Crypto.com and FTX, Binance appears to be leading the way. Among the many moves, Binance has so far acquired the following: 

Binance solidifies access to Dubai after securing a license to operate on March 17, 2022.

Binance secures the option to purchase a Brazilian securities firm backed by the Central Bank of Brazil after signing a Memorandum of Understanding in late March 2022.

Binance.US obtains a Money Transmitter License in Puerto Rico on April 21, 2022. 

Binance completes a Digital Asset Service Provider registration to operate in France just as Binance CEO CZ announces Paris as the exchange’s European hub. 

Binance UK joins the United Kingdom’s FinTech Founders Association on May 23, 2022, thereby establishing a close link to major companies focused on blockchain technology and the fintech sector.

Binance Bahrain becomes the first crypto-asset service provider to hold a full category 4 license after securing the license from the Central Bank of Bahrain on May 24, 2022. This allows the exchange to offer more crypto-focused services to users in that region.

Binance signs a Memorandum of Understanding with the Ministry of Digital Development, Innovations, and Aerospace Industry of the Republic of Kazakhstan on May 25th. The two sides aim to integrate existing banking infrastructure into the cryptocurrency market and focus on distributed ledger technology. 

Binance obtains regulatory approval to operate as a virtual asset service provider in Italy on May 27, 2022.

As you can see from the above list, this has all happened in the span of just a few months and it doesn’t appear as though the exchange intends to slow down at all. In speaking to the news of acquiring access to the Italian market, Binance CEO CZ notes:

“Clear and effective regulation is essential for mainstream adoption of cryptocurrencies…Binance has always put its users first and, with actions such as the implementation of the register, they can be confident that our platform is among the safest and most trustworthy in the world.”

Source

Bear market, bull market or somewhere in-between, the exchange shows no signs of slowing down. With cryptocurrency continuing to integrate with more layers of the economy, and more countries, and more prominent global economic players opening up their borders to exchanges like Binance, you can expect crypto to stay for the long term. With each passing regulatory approval, the argument against crypto being a fad weakens. Partnerships and access to new markets will enable the crypto ecosystem to flourish and grow for many years to come. 

What is Binance:

Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.

Where to find Binance:

Website | Twitter | Discord | Telegram |

Source : bsc.news

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