Binance, one of the world’s largest crypto exchanges, has officially been added to Argentina’s Virtual Asset Service Providers (VASP) Registry, according to a recent announcement from the National Securities Commission (CNV). This achievement marks the exchange’s 20th regulatory milestone globally, solidifying the platform’s presence in key markets around the world. Moreover, it could also lead to BNB price recover as optimism around the exchange grows after Changpeng Zhao’s prison release.
Binance Acquires Argentina VASP
The registration grants Binance full access to operate its platform in Argentina, making its website and application fully available to users in the country. Argentina-based customers can now access the full range of the crypto exchange’s trading, staking, and other crypto-related offerings.
The exchange’s latest regulatory success follows a series of other wins in regions such as India, Kazakhstan, and Indonesia. The company has also previously secured licenses and authorizations in jurisdictions like Dubai, France, Japan, and El Salvador.
“Argentina is a key market for Binance,” said Guilherme Nazar, Binance’s Head of Latin America. He added, “We will continue to work closely with the authorities to develop the industry most sustainably and securely for the benefit of the crypto community and society as a whole.”
Moreover, the exchange emphasized that its success in gaining regulatory approval reflects its ongoing commitment to global compliance. The company supports forward-looking regulation, believing that it plays a critical role in promoting the safe and responsible growth of the crypto industry.
“Binance’s registration with the Argentine regulator is the result of our consistent commitment to compliance, in Argentina and worldwide,” said the company in a statement.
The platform’s compliance program features robust anti-money laundering (AML) policies and comprehensive controls to combat the financing of terrorism (CFT). Additionally, Binance’s Know Your Customer (KYC) and Know Your Business (KYB) protocols and its Financial Crime Compliance (FCC) unit are integral parts of its strategy to maintain security and transparency across its platform.
“We are convinced that this is the best approach to advancing the digital-asset industry locally and globally,” added Nazar.
BNB Price to Recover?
BNB, the native crypto of Binance, has grabbed the spotlight again with the latest announcement. However, it is struggling with a downtrend with its price slumping below the critical $570 mark.
Earlier, when CZ was released from the correctional facility on September 27, the BNB price soared significantly and attained a high of $617.33. On the contrary, the crypto is now close to dropping below $560. As of press time, BNB traded at $560.69, representing a 1.98% dip in the past 24 hours.
Nonetheless, Binance’s regulatory achievements could offer a boost to the BNB price owing to growing user trust and adoption. Also, October, also known as “Uptober” in the crypto world, could prove to be a bullish month for BNB as the broader market benefits from it.
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Source: https://www.cryptonewsz.com/binance-argentina-vasp-bnb-price-recover/