Cryptocurrency exchange Binance has announced that it has registered crypto services from Southern Cyprus as a new development within the scope of its European expansions.
Popular exchange Binance has received the service registration from the country for its subsidiary Binance Cryprus Limited. The exchange has been authorized by the Cyprus Securities and Exchange Commission (CySEC). Binance will officially serve as a Crypto Asset Services Provider (CASP). This collaboration, designated as Class 3 registration, will empower Binance to work on crypto in the country.
Binance Continues Expansion In The Crypto Space
Southern Cyprus did not hesitate to authorize the Binance company. With the registration received by the country, Binance will operate in accordance with the strict rules of CySEC. It aims to authorize areas such as registration, spot, custody, betting and card services given to the exchange.
Binance Cryprus Limited, a subsidiary of global company Binance, will manage operations in the country. The crypto exchange announced this authority with its blog post today. The exchange will meet with users by being audited by CySEC.
Binance CEO, Changpeng Zhao, stated that the company complies with the policies that CySEC has carefully considered. Zhao stated that the registration received in Southern Cyprus is a proof of compliance.
