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Binance Wins Registration as Crypto Asset Service Provider in Cyprus
The crypto exchange can now offer more types of digital-asset services.
Updated May 9, 2023, 4:00 a.m. Published Oct 20, 2022, 12:18 p.m.
The Cyprus Securities and Exchange Commission (CySEC) has granted crypto exchange Binance Class 3 registration as a crypto asset services provider, or CASP, according to a blog post from Binance on Thursday.
Following in the footsteps of rival crypto exchange FTX, which set up a Cypriot entity in March, Binance is now permitted to offer spot, custody, staking and card services in compliance with CySEC’s anti-money-laundering and counter-terrorist-financing rules.
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Binance has similar registrations in France, Spain and Italy.
“Binance has some of the most thorough AML and CTF compliance policies in the industry," Binance CEO Changpeng Zhao said in the blog post. "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."
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The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
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