Binance is now a fully licensed crypto exchange in El Salvador

Binance, today announces that it is now the first fully licensed crypto exchange in El Salvador. Today Binance was granted both Bitcoin Services Provider license (BSP), by the Central Reserve Bank (Banco Central de Reserva), and the first non-provisional Digital Assets Services Provider license (DASP), by the National Commission of Digital Assets (Comisión Nacional de Activos Digitales). 

With this approval, Binance now has approvals and registrations in 18 markets worldwide, including France, Italy, Spain, Sweden and Dubai.

Min Lin, Binance Head of Latin America, commented: “We are honored to be granted this license, as Binance continues to work collaboratively with regulatory agencies around the world to support global standards for the crypto and blockchain industry.”

“Their blockchain technology adoption has created a thriving sector in El Salvador that proves security and innovation are complementary assets. Now, it joins countries around the world that have granted Binance a regulatory license.”

Daniel Acosta, Binance General Manager for Colombia, Central America and Caribbean, said: “These licenses allow Binance to expand the products and services offered including options tailored to the needs of our customers in El Salvador.”

He added by saying, “It is also a great opportunity to collaborate closely with government authorities to support the adoption of crypto assets in the country, foster financial inclusion, innovation and ensure customer protection.”

FYI, El Salvador becomes the first country in the world which recognises Bitcoin as a legal tender in 2021.