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REGULATION
by
1 month ago

Binance secures regulatory approval in Argentina, expanding crypto services to Argentinians

2024-10-03

REGULATION
by
1 month ago

 

Binance announced on Oct 1, 2024 that it has achieved a significant milestone in Argentina by securing regulatory approval from the National Securities Commission (CNV). This approval allows Binance to operate fully within the country, marking its 20th global regulatory milestone. This development is part of Binance’s broader strategy to expand its presence in favorable markets amid regulatory challenges in other regions.

 


Binance, one of the world's largest cryptocurrency exchanges, has officially been registered as a Virtual Asset Service Provider by Argentina's National Securities Commission (CNV). This milestone marks Binance’s 20th regulatory achievement worldwide, allowing the platform to expand its full suite of services to Argentina-based users.

 

The move underscores Binance's ongoing commitment to compliance and to supporting forward-looking regulation aimed at growing the crypto industry in a safe and sustainable manner, both in Argentina and globally. This latest approval adds Argentina to the list of jurisdictions where Binance has already secured licenses, registrations, or authorizations, including regions such as Dubai, France, Japan, and El Salvador.

 

Unlocking Full Access in Argentina

With the recent registration, Binance's website and app will now offer full accessibility to users in Argentina, allowing them to engage with a complete range of cryptocurrency services. This expansion reflects Binance's dedication to maintaining regulatory compliance in all operating regions and promoting responsible growth of the digital asset ecosystem.

 

“Argentina is a key market for Binance,” stated Guilherme Nazar, Head of Latin America at Binance. “We will continue to collaborate closely with the authorities to ensure the industry develops in a sustainable and secure manner for the benefit of the crypto community and society at large.”

 

Commitment to World-Class Compliance

Binance’s compliance program is designed to meet the highest international standards, incorporating robust Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) policies. Additionally, the platform has implemented user-friendly identity verification processes, such as Know Your Customer (KYC) and Know Your Business (KYB) protocols, and established an industry-leading Financial Crime Compliance (FCC) unit. This unit is dedicated to assisting law enforcement in investigating crypto-related crimes, thereby enhancing the overall security of the cryptocurrency ecosystem.

 

Guilherme Nazar emphasized Binance's focus on security and regulatory compliance as a strategic priority, stating, “We believe this is the best approach to advancing the digital-asset industry both locally and globally. By raising standards for user protection and fostering a transparent financial environment, Binance aims to lead the way in creating a secure and efficient cryptocurrency landscape.”

 

The incorporation into Argentina’s regulatory framework is a significant step for Binance, reinforcing its strategy of working closely with regulators to ensure responsible cryptocurrency adoption worldwide.

 

With this approval, Binance can now offer its full suite of services to users in Argentina, including trading, staking, and other crypto-related activities. This move is expected to bolster the local crypto scene, which has been growing rapidly.

 

 

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