Binance Secures Regulatory Approval in France. As Binance is on track to expand it's global operations how does this affect the Crypto ecosystem?

According to a press release from France's capital market regulator, the AMF (Autorité des marchés financiers), cryptocurrency exchange Binance has received regulatory permission in France. Binance has been approved as a Digital Asset Service Provider (DASP) in France, which means it will be able to hold digital assets, enable their buy, sale, and exchange, and run a trading platform for them. According to a company blog post, this is Binance's first such license in Europe. After receiving preliminary authorisation to operate as a broker-dealer in virtual assets in Abu Dhabi last month, the business is expanding its global activities. Due to its decentralized nature, Binance has never had a single headquarters, which regulators dislike because it lacks accountability. Last year, a slew of regulatory agencies around the world issued warnings that Binance was not permitted to operate in their jurisdictions.

"We are grateful to the AMF and ACPR, who displayed a commitment to innovation that allowed Binance to navigate the full application process," Binance CEO Changpeng Zhao said in response to the recent news. Binance has always placed its users first, and as a reputable DASP registered in France, the crypto community can now have even more confidence in Binance France."

In my opinion Binance global expansion of operations is exciting news for the crypto community. The platform has earlier in the year obtained licenses to operate in Bahrain, Abu Dhabi and Dubai. The Platform seeks to create a global market for itself. The platform's obtaining government certification to operate gives Binance accountability and without a doubt creates trust with the government, regulatory bodies and users.

This will no doubt help the whole Blockchain ecosystem has it grows and would no doubt aid the development of new innovative projects within the space such as Silks a blockchain-based metaverse that enables users to own, trade, and profit from thoroughbred racing horses, Faith tribe which is a platform for creating trading, distribution, and monetization of designs of fashion, Luckyblock which is a digital asset project that decentralizies the lottery process via blockchain technology.

The Blockchain and crypto ecosystem is rapidly growing has cryptocurrencies are being adopted by financial institutions and government bodies around the globe. Binance global expansion and it's securing regulatory agreement would without a doubt help solidify cryptocurrencies entrance into the mainstream.