Cryptocurrencies: the Chinese giant Binance will be able to practice in France

Cryptocurrencies: the Chinese giant Binance will be able to practice in France

To discover the news of FrenchTech, and the information not to be missed directly in your mailbox at 3 p.m. every day, click here The Chinese cryptocurrency giant Binance obtained its registration from the Financial Markets Authority (AMF) on Wednesday to be able to operate in France. This registration concerns the “custody of digital assets”, their purchase and sale against legal tender currencies or the exchange and operation of a securities trading platform, according to the AMF's website, which lists the companies registered in the domain.

In total, the AMF now lists more than thirty companies registered in this sector, which requires verification of “the integrity and competence of the managers” as well as compliance with the regulations. This registration “as a digital asset service provider” is the group’s first in Europe, said Binance in a press release, which claims to thus become “the first major global cryptocurrency exchange to register in France”. The registration subjects the company's activities “to French anti-money laundering and anti-terrorist financing regulations, and provides important regulatory protection for local users”, she argues.

Binance, which is one of the world's two largest cryptocurrency exchanges, now intends to “significantly expand its operations in France and intends to recruit up to 250 people focused on the development of cryptocurrencies and ‘blockchain’ infrastructures”, the technology that serves as the basis for crypto-assets. Binance will now be able to compete in particular with the French company Coinhouse, which aims to become “the future European cryptobank” and which has also obtained AMF registration.