Chinese cryptocurrency giant Binance authorized in France

Chinese cryptocurrency giant Binance obtained its registration from the Financial Markets Authority on May 4.

© Photo: Reuters

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The Chinese cryptocurrency giant obtained its registration from the Financial Markets Authority on May 4.

Binance is one of the largest cryptocurrency exchanges.

One more step for its international development, particularly in Europe.

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This sesame from the AMF is a gateway to Europe that Binance did not want to miss.

According to David Prinçay, the director of the French antenna, this authorization proves the "

 ".

Because the company, considered the largest cryptocurrency exchange platform in the world with its 90 million customers, suffers from a lack of legitimacy.

It is indeed in the sights of American and British regulators, criticized for its lack of means put in the fight against money laundering.

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Compete with the French company Coinhouse

This authorization from the AMF will force Binance to comply with French regulations.

But it is registered as a service provider on digital assets.

This opens up the possibility of deploying marketing and commercial operations on French soil.

Binance's ambitions in France: to create an ecosystem around cryptocurrencies but also to compete at home with the French company Coinhouse, which already sees itself as the future benchmark European cryptobank.

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