Binance to custody digital assets in France after regulatory approval

Binance, the world's largest cryptocurrency exchange, on Wednesday has gained regulatory approval to custody digital assets in France, according to a release from France's stock market regulator, Autorité des marchés financiers ("AMF"). Moreover, Binance now holds the title of a registered Digital Asset Service Provider in France, its first such license in Europe, according to a blog post. The move comes as Binance attempts to expand its global operations. Towards the end of April, Binance.US, the American division of Binance, secured a license to offer crypto trading services in Puerto Rico. “Effective regulation is essential for the mainstream adoption of cryptocurrency," said Binance Founder and CEO Changpeng Zhao. "The French DASP and AML/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France," he added. In mid-march, Binance received a crypto asset service provider license from the Central Bank