CZ changpeng Zhao (CZ) is the founder of crypto exchange Binance. said during an event that the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. is in talks with German regulators.
The world’s largest cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange, Binance is working to obtain approval from German regulators. This was reported by its CEO, Changpeng Zhao (“CZ”), during a conference in Hamburg.
The director of the exchange said on the stage of the event Finance FWD 2022 that they are currently actively communicating with German regulators. As part of the efforts, Binance is hiring compliance personnel and applying for licenses in the European country. he added, expressing optimism about these plans. The mediaThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. quoted the statements:
Esperamos obtener una licencia en Alemania . Our team is definitely talking to regulators and, according to side comments, talks are going well. .
The movement shortly after the Binance to obtain regulatory approval in France and appears to be part of the company’s broader strategy to be regulated regulation is when something is controlled by a specific set of rules. in Europe. As reported by DiairoBitcoin the Autorité des Marchés Financiers (AMF) granted the exchange a license as a digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset service provider earlier this month.
As part of the push in France, the company announced a EUR 100 million (USD $105 million) investment in the French web3 ecosystem. The license from France’s financial regulator means that it can now Binance can facilitate the safekeeping of digital assets, allow users to buy and sell cryptocurrencies and help exchange digital assets with each other in that country.
A license in Germany, Europe’s largest economy, could open the door to greater regulatory approval in other parts of the continent, as noted by CoinDesk especially once MiCA, the European Union’s regulatory framework for cryptocurrencies that will allow the extension of licenses between all countries of the bloc, comes into force.
After facing an intense escrutinio regulatorio for much of the past year, Binance has focused on getting the go-ahead from regulators in each country. The exchange is already authorized to operate in Bahrain, Abu Dhabi and Dubai.
- Germany decrees BTC and ETH sales tax-free after holding assets in escrow a financial instrument where assets or cash are held by a third party while a buyer and a seller complete a deal. for one year
- Binance suspends crypto derivatives trading for users residing in Spain until further notice
- Binance blocks accounts of family members of Russian government officials
Article by Hannah Estefania Perez / DiarioBitcoin
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