Binance Achieves Landmark as El Salvador's First Fully Licensed Crypto Exchange
Binance has made history by securing the title of El Salvador's inaugural fully licensed cryptocurrency exchange. With the Central Reserve Bank granting the Bitcoin Services Provider license and the National Commission of Digital Assets conferring the Digital Assets Services Provider license, Binance marks a pivotal step in its commitment to global compliance.
Because Bitcoin
August 8, 2023
As per a recent announcement, Binance is thrilled to announce its achievement as the inaugural fully licensed cryptocurrency exchange in El Salvador. This milestone has been reached through the granting of the Bitcoin Services Provider license (BSP) by the Central Reserve Bank (Banco Central de Reserva), as well as the non-provisional Digital Assets Services Provider license (DASP) by the National Commission of Digital Assets (Comisión Nacional de Activos Digitales).
This significant accomplishment underscores Binance's continued dedication to securing local licenses and authorizations in pivotal global markets. As a result of this accomplishment, the company now boasts endorsements and registrations in 18 markets worldwide, surpassing those of any other cryptocurrency exchange.
Min Lin, Binance's Head of Latin America, expressed gratitude over the license, highlighting Binance's collaborative efforts with regulatory bodies across the globe to uphold international standards within the crypto and blockchain sector. Lin emphasized the rigorous work undertaken by the team over several months to ensure the fulfillment of all requirements and due diligence stipulated by these agencies. This dedication serves to underscore Binance's commitment to both the Salvadoran market and its users. Lin also extended appreciation to the Central Reserve Bank and the National Commission of Digital Assets for their instrumental role in this achievement. The adoption of blockchain technology by these entities has spurred a thriving sector in El Salvador, showcasing the harmonious coexistence of security and innovation. El Salvador now joins the ranks of countries worldwide that have conferred Binance with regulatory licensure.
Daniel Acosta, Binance's General Manager for Colombia, Central America, and the Caribbean, remarked that these licenses enable Binance to expand its array of products and services, which can now be tailored to cater to the unique requirements of customers in El Salvador. Acosta also emphasized the significance of collaborating closely with governmental authorities to facilitate the adoption of cryptocurrency assets in the country. This cooperation aims to bolster financial inclusion, foster innovation, and safeguard customer interests.
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