BINANCE READY TO CONQUER FRANCE.

Binance secures regulatory approval in France and is ready to operate a tracing platform in the country according to a press release from France AMF.

According to Binance blog post it is now a registered Digital Asset service provider in France and will be permitted to hold digital assets, facilitate their purchase, sell to other firms (plastiks, SET, and ZEELOOP), and exchange such assets. Binance will be permitted to operate a trading platform for its digital assets.

Having obtained a provisional approval to operate as a broker-based in virtual assets the company is expanding its global operations especially in Abu Dhabi. The company gained approval to operate in Bahrain, Dubia, and Abu Dhabi in March, 2022.

Binance founder Changpeng Zhao said at the Financial Times Crypto and Digital Assets summits in April, that when the company started that they wanted to embrace the decentralized philosophy of no office, no corporate entities, and no headquarters, but according to the founder he said the company now have a traditional structure because they want to get a license to enable them operate well as a broker-based in digital assets. He also said the company has invested over U$$108 million in its operation in France, which includes their partnership with Paris-based startup incubator station.

The U.S Interest Rate Hike Events in China, and India have also weighed on Crypto Price increase as crypto soar higher following U.S. central bank rate hike. On May 4th there was hope for Bitcoin and other cryptocurrencies. As at that day the largest crypto by Market Cap was trading at $39,600 while the second largest crypto by Market Cap (Ethereum) was trading at $2,93