The Cyprus Securities and Exchange Commission (CySEC) has granted Binance, a prominent cryptocurrency exchange, Class 3 registration as a Crypto Asset Services Provider (CASP). This registration allows Binance to expand its range of digital asset services.
Binance can now offer services such as spot trading, custody, staking, and card services while complying with CySEC’s regulations related to anti-money laundering (AML) and countering terrorist financing.
This move by Binance follows a similar step taken by its rival cryptocurrency exchange, FTX, which established a Cypriot entity in March. Binance has previously obtained similar registrations in countries like France, Spain, and Italy.
Changpeng Zhao, the CEO of Binance, highlighted the exchange’s commitment to stringent AML and CTF compliance policies, stating that the recognition of their efforts by the registration in Cyprus reflects their dedication to leading-edge compliance standards.