Binance has received French regulatory approval to operate its cryptocurrency exchange in the country. The company is currently registered with the French Financial Markets Authority (AMF) as a digital asset service provider, which gives it the right to offer trading and custody services for bitcoins and other cryptocurrencies.
The move makes France the first major European country to grant Binance permission to operate on its territory. Binance is the largest cryptocurrency exchange in the world. According to CoinGecko, the exchange’s daily spot trading volume is more than $14 billion and derivatives volume is nearly $50 billion.
Binance does not have an official headquarters and once even expressed pride in it. But times have changed and after backlash in a number of countries including the UK, Italy and Singapore, the company is trying to work with regulators.
Binance CEO and founder Changpeng Zhao told CNBC last month that the company plans to open its European headquarters in Paris. He called France very advanced in the use of cryptocurrencies. Binance also pledged to invest EUR 100 million in projects in the country.