2024-10-03
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.