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.
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