Binance has just reached an important milestone by securing regulation Approval to work fully in Argentina. This milestone marks the company’s 20th global regulatory approval, allowing it to expand its services in a region that is seeing increasing demand for cryptocurrencies. With this registration, Binance can now offer its full suite of services, enabling users in Argentina to legally trade, buy and sell various cryptocurrencies.
A new era for cryptocurrencies in Argentina
to Binance And for its clients, this announcement from Argentina’s National Securities Commission (CNV) represents a major change. Previously, the exchange had limited operations in the country, but now, with the full support of local regulatory bodies, its platform is fully accessible.
The interface will be free and available to the general public, so people can interact with it freely on both mobile apps and the web. Binance’s business model is mostly based in Argentina because the market has great potential to accept cryptocurrencies.
Proud to announce that #Binance He’s got registered in Argentina! 🇦🇷
We now have 2️⃣0️⃣ regulatory approvals globally.
Our commitment to a sustainable and secure blockchain ecosystem continues for our users in Latin America and around the world. 🚀https://t.co/0oHPsePA3T
– Richard Teng (@_RichardTeng) October 1, 2024
Binance’s head of Latin America, Guilherme Nazar, said the approval was very important, representing the company’s desire to work closely with authorities in this part of the world to build a safe and sustainable cryptocurrency ecosystem.
BTCUSD trading at $61,784 on the daily chart: TradingView.com
Binance’s increased compliance and security measures also contribute to the company’s recent success, which is not entirely attributable to the growth in its service offerings. The organization has taken a comprehensive compliance program that includes very strong anti-money laundering (AML) and counter-financing of terrorism (CFT) measures within its framework.
Additionally, Binance enforces “Know Your Customer” and “Know Your Business” protocols to properly verify the identities of its users. This will improve security, customer and community trust in cryptocurrencies.
Binance: future expansion strategy
Binance is expected to continue focusing on its presence in Latin America after receiving new approval in Argentina. The company seems determined to continue searching for beneficial conditions for legal and profitable cryptocurrency projects in the region. The recent approvals in Kazakhstan and India once again demonstrate the company’s interest in continuously and continuously strengthening its presence in markets around the world.
Nizar stressed the importance of Argentina for the future endeavors of cryptocurrency exchanges. The organization’s goal is to create an environment that encourages safe adoption of cryptocurrencies through close cooperation with regulatory bodies. This dedication not only benefits Binance, but also contributes greatly to the overall growth of the local cryptocurrency industry.
Former CEO of Binance Changping Zhao Chow was released from a US prison after serving four months related to anti-money laundering violations on September 27. While on his release, Zhao has remained restricted from running or operating the cryptocurrency exchange since Binance’s current CEO, Richard Teng, confirmed on September 5 that Zhao had received a lifetime ban from participating in the company’s operations.
Featured image from Digit Insurance, chart from TradingView
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