Binance just reached a major milestone by obtaining regulatory approval to fully operate in Argentina. This achievement marks the company’s 20th global regulatory approval, allowing it to expand its services in a region that shows growing demand for cryptocurrency. With this registration, Binance can now offer its full range of services, allowing Argentine users to legally trade, buy and sell various cryptocurrencies.
A new era for cryptocurrency in Argentina
For Binance and its customers, this authorization from the Argentine National Securities Commission (CNV) marks a major change. Previously, the exchange had limited operations in the country, but now, with the full support of local regulators, its platform is fully accessible.
The interface will be free and accessible to the general public, so people can freely interact with it on mobile and web applications. Binance’s business model is primarily based in Argentina, as the market is considered to have great potential for the acceptance of cryptocurrencies.
Proud to announce that #Binance obtained its registration in Argentina! 🇦🇷
We now have 2️⃣0️⃣ regulatory approvals worldwide.
Our commitment to a sustainable, secure and secure blockchain ecosystem for our users in Latin America and around the world continues. 🚀
– Richard Teng (@_RichardTeng) October 1, 2024
Binance’s head of Latin America, Guilherme Nazar, said the approval was very important, as it represents the company’s willingness to work closely with authorities in this part of the globe to build a crypto- safe and sustainable ecosystem.
BTCUSD trading at $61,784 on the daily chart: TradingView.com
Binance’s growing compliance and security measures also contribute to the company’s recent success, which is not entirely attributed to the growth of its service offerings. The organization has adopted a comprehensive compliance program that includes very robust anti-money laundering (AML) and anti-terrorist financing (CFT) measures as part of its framework.
In addition to this, Binance applies Know Your Customer and Know Your Business protocols to properly verify the identity of its users. This would improve the security of customer and community trust in cryptocurrencies.
Binance: Future Expansion Strategy
Binance is expected to continue focusing on its presence in Latin America after new approval in Argentina. The company appears to intend to continue seeking favorable terms for legal and profitable crypto projects in the region. The recent approvals in Kazakhstan and India once again demonstrate the company’s interest in consistently and continuously consolidating its presence in markets around the world.
Nazar highlighted the importance of Argentina for future crypto exchange efforts. The organization’s goal is to establish an environment that encourages the secure adoption of cryptocurrencies by working closely with regulators. This commitment not only benefits Binance but also makes a substantial contribution to the overall growth of the local crypto industry.
Former Binance CEO Changpeng Zhao was released from a US prison for serving four months related to anti-money laundering violations on September 27. Despite being released, Zhao remains blocked from managing or operating the crypto exchange since current Binance CEO Richard Teng confirmed on September 5 that Zhao received a lifetime ban from participating in operations. of the company.
Featured image from Digit Insurance, chart from TradingView
