Binance Receives Regulatory Approval in Cyprus: A Major Milestone for European Expansion
Binance continues its impressive expansion across Europe, securing another key regulatory approval. Binance today announced that Binance Cyprus Limited has been granted Class 3 registration as a Crypto Asset Services Provider (CASP) by Cyprus Securities and Exchange Commission (CySEC). This significant achievement marks a pivotal moment for the exchange, allowing it to offer a wider range of services within the Cypriot market.
Binance has been granted its fourth regulatory approval in Europe with a Crypto Asset Services Provider (CASP) registration in Cyprus. 🇨🇾 This registration allows us to offer spot trading, custodian services, staking opportunities, and potentially even card services to Cypriot users. Binance has announced that Binance Cyprus Limited has been granted Class 3 registration as a Crypto Asset Services Provider by Cyprus Securities and Exchange Commission (CySEC).
What This Means for Binance and Cyprus
This approval signifies Binance's commitment to complying with regulatory standards and building trust within the cryptocurrency space. Cyprus marks the exchange’s fourth regulatory approval in Europe, following similar authorizations in other key European jurisdictions. This signals Binance's dedication to establishing a secure and regulated platform for its users.
The registration in Cyprus provides Binance with a strategic foothold in the region, enabling it to cater to the growing demand for cryptocurrency services. Prior to Binance, exchanges like Revolut as well as Crypto.com were permitted to operate and offer services in the region, highlighting the increasing acceptance of digital assets within Cyprus.
Binance Receives 4th Regulatory Approval in Europe with Crypto Asset Service Provider registration in Cyprus
This milestone underscores Binance's continued efforts to work collaboratively with regulators and contribute to the development of a responsible and sustainable cryptocurrency ecosystem. Stay tuned for further updates on Binance's expansion and offerings in Cyprus.