The exchange obtained the Bitcoin Service Provider (BSP) and Digital Asset Service Provider (DASP) licenses, which will allow Binance to offer services to respond to the specific needs of clients in El Salvador
Binance announces that it has become the first fully licensed crypto exchange in El Salvador after receiving the Bitcoin Service Provider (BSP) license, granted by the Central Reserve Bank, and the first non-provisional Asset Service Provider license Digital Assets (DASP), granted by the National Digital Assets Commission.
This milestone represents another step in Binance's continued efforts to obtain local licenses and permits in key markets around the world. With this, the company has approvals and registrations in 18 markets around the world, including France, Italy, Spain, Sweden and Dubai, more than any other cryptocurrency exchange.
Min Lin, Binance Regional VP for Latin America, commented: "We are honored to receive this license, as Binance continues to work collaboratively with regulatory agencies around the world to support global cryptocurrency industry standards. and the blockchain. This announcement comes after many months of effort by our team to provide all the information and proceed with the due diligence required by the agencies, which demonstrates our commitment to the Salvadoran market and our users. We thank the Central Bank Reserve and the National Commission for Digital Assets. Its adoption of blockchain technology has created a thriving sector in El Salvador that demonstrates that security and innovation are complementary assets. Now, it joins countries around the world that have granted Binance a regulatory license."
Daniel Acosta, general manager of Binance for Colombia, Central America and the Caribbean, commented: "These licenses allow Binance to expand its product and service proposal, including alternatives adapted to the specific needs of users in El Salvador. It is also a great opportunity to collaborate closely with government authorities with the aim of supporting the adoption of crypto assets in the country, promoting financial inclusion, innovation and ensuring customer protection."
Two years ago, El Salvador became the first country in the world to recognize Bitcoin as legal tender in 2021 and approved a law that regulates the issuance of other digital assets by both the State and private entities.
