Binance gains license to operate in Argentina

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Binance gains license to operate in Argentina
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Binance has gained yet another license to operate in a country, this time in Latin America. According to a statement sent to Todaysgist, the exchange received the Registration of Virtual Asset Service Providers (PSAV) from the National Securities Commission (CNV) of Argentina.

With this, Binance gains authorization to operate cryptocurrency trading services in the neighboring country. The license in Argentina makes Binance reach the mark of 20 jurisdictions.

Binance highlights that its registration with the CNV highlights the company’s commitment to compliance, in Argentina and around the world. In this sense, the exchange aims to achieve greater development and expansion of the cryptocurrency industry in a safe and sustainable way.

The registration in the South American country follows other recent achievements made in several regions, including India, Kazakhstan, and Indonesia. Additionally, Binance has permissions to operate in countries such as France, Japan and El Salvador, as well as in the city of Dubai.

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Search for compliance

With the new registration, the Binance website and app are now fully available to Argentine users. Citizens will also be able to trade cryptocurrencies using the Argentine peso.

“At Binance, we support forward-looking regulation and believe it is critical to ensuring the industry continues to evolve and adoption occurs safely. As an industry leader with licenses and registrations in 20 jurisdictions around the world, Binance is committed to developing the cryptocurrency ecosystem globally and in Argentina, in compliance with local requirements,” comments Guilherme Nazar, Regional Vice President at Binance in Latin America.

With the registration, Binance also wants to bring its global standards to the Argentine operation. This includes, for example, Binance’s compliance program, which brings robust anti-money laundering (AML) policies and controls and a comprehensive framework to combat the financing of terrorism (CFT).

In addition to strict AML and CFT controls, other essential components of Binance’s compliance program include robust identity verification (KYC) processes and the Financial Crimes Compliance (FCC) unit.

In the latter, Binance leads the crime fighting sector. The FCC was developed to assist authorities in investigating crimes related to cryptocurrencies, thereby strengthening the collaborative security of the ecosystem.

“Binance’s commitment to security and regulation is a fundamental part of our strategy. We are convinced that, in this way, we can significantly contribute to the development of the local and global industry, raising standards for the protection of users, in a transparent and efficient financial environment”, concluded Nazar.

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