Binance Gets Nod to Operate as Crypto Asset Service Provider in Cyprus

The Cyprus Securities and Exchange Commision (CySEC) has granted the Binance Class 3 registration as a Crypto Asset Services Provider (CASP), according to a blog post from Binance.

Following in the footsteps of rival crypto exchange FTX, which set up a Cypriot entity in March, Binance is now permitted to offer spot, custodian, staking and card services in compliance with CySEC’s anti-money laundering and counter terrorist financing.

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Binance also has similar registrations in France, Spain and Italy.

"Binance has some of the most thorough AML and CTF compliance policies in the industry," said Binance CEO Changpeng 'CZ' Zhao. "Recognition of the efforts we have made to be on the leading edge of compliance that our registration in Cyprus represents is testament to that."

(Source: Coindesk)