Binance, one of the largest cryptocurrency exchanges, has received approval for registration in Argentina's Virtual Asset Service Providers (VASP) registry. This will allow Argentine users full access to Binance's crypto services.

Legal Crypto Services in Argentina

With membership in Argentina's VASP, users in Argentina can now legally access a variety of crypto services, including buying, selling, and other crypto activities through Binance's website and mobile app. Binance's inclusion in Argentina's VASP registry comes at a time when there is a reported increase in demand for cryptocurrency services in the country. Argentina has seen many employees paid in cryptocurrencies, as supported by a recent CoinDesk report.

Commitment to Compliance

Binance has reportedly developed a comprehensive compliance program designed to meet the strictest global standards. This program includes robust anti-money laundering (AML) measures, controls to combat the financing of terrorism (CFT), and stringent Know Your Customer (KYC) and Know Your Business (KYB) protocols. In addition to these measures, Binance has established an industry-leading Financial Crime Compliance (FCC) unit. This specialized team works closely with law enforcement agencies to investigate crypto asset-related crimes, helping to strengthen the security of the broader cryptocurrency ecosystem. Binance's registration with Argentina’s National Securities Commission (CNV) is a direct result of the company's consistent dedication to compliance both in Argentina and globally.

Global Expansion and Regulatory Milestones

Binance has been steadily expanding its global footprint, securing licenses and regulatory approvals in several countries. The approval in Argentina comes just days after Binance received a full Digital Asset Trading License in Kazakhstan. This latest approval adds to Binance’s regulatory achievements in key markets such as India, Indonesia, and Japan, as well as its prior licenses in regions like Dubai, France, and El Salvador.

Binance's registration in Argentina is a significant step in the company's global expansion strategy and underscores its commitment to adhering to local and international standards in the cryptocurrency industry.