Argentina Approves Binance as VASP, Unlocking Full Access

Crypto News Exchanges

Argentina Approves Binance as VASP, Unlocking Full Platform Access

Written by Gode S.,

Web3 Market Analyst

Last Updated: October 02, 2024

Key Takeaways

Binance is now a registered virtual asset service provider (VASP) in Argentina, allowing full access to its services for users in the country;
Argentina is the 20th country where Binance has gained regulatory approval;
Binance stresses the importance of working with authorities and progressive regulations to ensure the safe and sustainable growth of the crypto industry.

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Argentina Approves Binance as VASP, Unlocking Full Platform Access

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Binance, the world's largest crypto exchange by trading volume, has been registered as a recognized virtual asset service provider (VASP) with the National Securities Commission (CNV) of Argentina.

With this new regulatory status, users in Argentina can fully access the platform through both its website and mobile app.

Argentina is now the 20th country where Binance has gained regulatory approval, with the list also including India and Dubai.

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Guilherme Nazar, Binance's head for Latin America, highlighted the company's dedication to working within established regulations:

Argentina is a key market for Binance. We will continue to work closely with the authorities to develop the industry most sustainably and securely for the benefit of the crypto community and society as a whole.

Binance emphasizes the importance of progressive regulations, seeing them as essential for promoting the safe and responsible growth of cryptocurrency adoption.

In other Binance-related news, the company's founder and ex-CEO, Changpeng Zhao, recently concluded a four-month US prison sentence for breaches of Anti-Money Laundering (AML) regulations. Although he still wields influence in the company due to his majority ownership stake, he can't be involved in daily operations.

Zhao said that he will now focus on educational initiatives, investment in blockchain technologies, and charity, while Binance will continue moving forward with Richard Teng as the CEO.