Binance Receives Licenses to Operate in El Salvador
Binance, a crypto exchange, announced that it has obtained licenses to operate in 18 countries, including two licenses in El Salvador. The Central Bank of El Salvador granted Binance a Bitcoin Services Provider (BSP) license, while the Salvadoran National Commission of Digital Assets issued a non-provisional Digital Assets Services Provider license (DASP).
Key Points:
- Binance now holds licenses to operate in 18 countries
- The Central Bank of El Salvador granted Binance a BSP license
- The Salvadoran National Commission of Digital Assets issued a DASP license
- The licenses allow Binance to expand its products and services in El Salvador
- El Salvador passed a law in January to regulate digital securities and launch bitcoin-backed bonds
These licenses enable Binance to offer a wider range of products and services tailored to the needs of customers in El Salvador, according to Daniel Acosta, Binance’s general manager for Colombia, Central America, and the Caribbean.
Hot Take: Binance’s acquisition of licenses in El Salvador further solidifies its global presence and legitimacy. By complying with local regulations and expanding its offerings, Binance aims to provide enhanced services to crypto users in El Salvador and beyond.
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