Binance has obtained a Bitcoin service provider license as well as a first non-provisional digital asset service provider license, allowing it to offer suitable products and services in the country.
We are pleased to announce that Binance has become the first digital asset service platform to obtain all digital asset regulatory approvals in El Salvador, after obtaining (i) a digital asset service provider license Bitcoin (Bitcoin Services Provider - “BSP”) with the Central Bank of El Salvador (“Banco Central de Reserva”) and (ii) a non-provisional digital asset service provider license (“Digital Asset Services Provider” - DASP ) to the National Commission for Digital Assets (Comisión Nacional de Activos Digitales).
This major achievement represents another step in Binance's ongoing efforts to obtain local licenses and authorizations in key markets around the world. Binance has registrations and regulatory authorizations in 18 markets worldwide, including France, Italy, Spain, Sweden and Dubai, more than any other digital asset services platform .
Min Lin, Head of Binance in Latin America, said: “We are honored to receive these regulatory approvals which demonstrate Binance’s commitment to continuing to collaborate with regulatory authorities around the world to support the creation of global standards governing the sector. digital assets and blockchain. This announcement is the happy outcome of many months of hard work by our teams, who transmitted all the information required by the local authorities and participated in all the due diligence processes required by the authorities to prove our commitment to the Salvadoran market and our users. We warmly thank the Central Bank of El Salvador and the National Commission for Digital Assets. The adoption of blockchain technology has helped the sector flourish in El Salvador and has proven that security and innovation are perfectly compatible. El Salvador today joins the list of countries around the world that have granted regulatory approval to Binance. »
Daniel Acosta, General Manager of Binance in Colombia, Central America and the Caribbean, reacted to the announcement: “These authorizations allow Binance to offer more products and services in El Salvador, including services tailored to the needs of our customers who reside there. This is also the perfect opportunity to collaborate with government authorities to drive the adoption of digital assets in the country, drive financial inclusion and innovation, and ensure customer protection. »
El Salvador is the first country in the world to recognize Bitcoin as legal tender in 2021, and approved a law governing the issuance of other digital assets by the state and private entities.