Binance today confirmed that binance cyprus limited has been awarded class 3 certification as a Crypto Asset Services Provider (CASP) by Cyprus Securities and Exchange Commission (CYSEC).
The certification will enable Binance to offer services, such as spot, custodian, staking and card services, in accordance with the requirements of the Cysec’s Anti-moneyaundering and Counter Terrorist Financing (AML/CTF) regulations. Binance Cyprus Limited was granted registration by CYSEC on october 20, 2022.
In addition to obtaining licenses to financial institutions, CYSEC is the Anti-money Laundering and Counter-Terrorist Financing (AML/CFT) supervisor for crypto-asset operations conducted in or from Cyprus, intensively evaluating aml and Know Your Customer (KYC) procedures.
“This is another milestone in Binance’s regulatory efforts in Europe and follows similar registrations for Binance’s local entities in France, Italy and Spain.”
Changpeng Zhao (CZ), founder and CEO of Binance, commented:
“Binance has some of the most thorough AML and CTF compliance policies in the industry. Recognition of the efforts we have made to be on the leading edge of compliance that our registration in Cyprus represents is testament to that. Effective regulation that protects users and stimulates innovation is essential to the continued growth of our industry.”
Martin Bruncko, Executive Vice President Europe of Binance, incorporated: “Registration in Cyprus is an important step in our European growth and is another sign of our commitment to the region. We look forward to building out our local team in Cyprus and helping to develop the local crypto ecosystem.”
