El Salvador signed off on accepting Bitcoin as its legal currency. After this decision, El Salvador also supported its support for BTC and cryptocurrencies with its purchases.
At this point, El Salvador issued a crypto license to Binance.
Binance said in a statement that it has acquired two licenses in El Salvador, making it the “first fully licensed” crypto exchange in the country.
Binance has obtained two licenses, the Bitcoin Service Provider (BSP) license issued by the Central Bank of El Salvador and the first non-temporary Digital Asset Service Provider (DASP) license issued by the National Digital Assets Commission of El Salvador.
Min Lin, President of Binance Latin America, said:
“We are honored to receive this license as Binance continues to work in collaboration with regulatory bodies around the world to support global standards for the crypto and blockchain industry.
This announcement comes after months of dedicated work by our team to provide all the information and due diligence required by the agencies and demonstrates our commitment to the Salvadoran market and our users.
We are grateful to the Central Bank and the National Digital Assets Commission. The adoption of blockchain technology has created a thriving industry in El Salvador where security and innovation are proving to be complementary assets.
It now joins countries around the world that have issued regulatory licenses to Binance.”
Prior to El Salvador, Binance was licensed in 18 markets worldwide, including France, Italy and Dubai.
*Not investment advice.
