The Binance platform is now regulated in France thanks to its registration as a PSAN with the Autorité des marchés financiers (AMF). Through a local office, the company can now offer its services in France in full compliance
Binance officially receives PSAN
status
It’s official, Binance France has just obtained its registration as a digital asset service provider (DASP) from the French Financial Markets Authority (AMF).
Changpeng Zhao, the platform’s CEO, had first mentioned his desire to establish a solid foothold in France, notably via the “Objectif Lune” project. Binance has recently put this into practice by developing a startup incubator directly at Station F, in the heart of Paris.
At the same time as this event, where Changpeng Zhao declared that “France is in a unique position to be the leader of this industry in Europe”, Binance recruited Stéphanie Cabossioras, the former deputy director of legal affairs at the AMF, which already hinted at a strategy to move closer to the PSAN status.
In any case, Binance is now officially registered as a PSAN, a mandatory status for any platform wishing to offer digital assets on French soil. This news is fully in line with Binance’s values, which have always advocated for the regulation of exchanges and cryptocurrencies.
Stemming from the law n°2019-486 of 22 May 2019, the PSAN registration concerns any company that offers, among others:
- the conservation of digital assets; and/or
- buying or selling digital assets in legal tender; and/or
- exchanging digital assets for other digital assets; and/or
- the operation of a trading platform for digital assets.
Binance, which meets all four of these criteria, will now be able to deploy all the necessary means to develop fully in France, which its CEO recently described as a “launch pad for Europe”.
For example, the platform will now be able to carry out marketing operations throughout France in order to promote its services
