Binance has recently registered as a Virtual Asset Service
Provider with Argentina’s National Securities Commission (CNV).
This registration is a notable regulatory milestone for the
company, marking its 20th such achievement globally. The approval allows
Binance to offer its full range of services to users in Argentina.
Binance Focuses on Compliance
This development highlights Binance’s focus on regulatory
compliance. According to the company, it aims to promote safe and sustainable
growth in the cryptocurrency industry, both in Argentina and worldwide.
Binance has implemented a compliance program that includes anti-money
laundering and counter-financing of terrorism policies.
Proud to announce that #Binance has secured registration in Argentina! 🇦🇷We now have 2️⃣0️⃣ regulatory approvals globally. Our commitment to a sustainable, secure & safe blockchain ecosystem for our users in LatAm and all over the world continues. 🚀https://t.co/0oHPsePA3T
— Richard Teng (@_RichardTeng) October 1, 2024
Additionally, the company has established a know-your-customer process, which is intended to enhance security and protect users. Binance
also collaborates with law enforcement agencies to ensure adherence to
regulations.
Meanwhile, Binance’s
Kazakhstan unit has received formal consent from the Astana Financial Services
Authority (AFSA) for a full regulatory license, bringing it closer to being
the first regulated Digital Asset Trading Facility operator in the country.
This
development follows the exchange’s receipt of ISO 27001 and ISO 27701
certifications for its platforms in Kazakhstan earlier this year.
Binance to Phase Out Turkish Language Support
In
Turkey, Binance is implementing notable changes, as reported by Finance Magnates. The firm is
actively monitoring regulatory developments in the country and is committed to
collaborating with regulators to foster a compliant environment for users.
Binance supports the establishment of a regulatory framework
to protect the ecosystem. While Binance.com will remain accessible in Turkey,
certain services will be adjusted. Specifically, the Turkish language option
will be phased out over three months, and marketing efforts aimed at Turkish
users will cease entirely.
This article was written by Tareq Sikder at www.financemagnates.com.