Binance is pleased to announce that the exchange has become the first crypto exchange to be fully licensed in El Salvador after being granted a Bitcoin Service Provider (BSP) license by the Central Bank (Banco Central de Reserva) and a non-provisional Digital Asset Service Provider (DASP) license first by the National Commission on Digital Assets (Comisión Nacional de Activos Digitales).
This achievement is another step in Binance's efforts to obtain local licenses and worldwide permits. With this, Binance has obtained approval and registration in 18 markets worldwide, including France, Italy, Spain, Sweden and Dubai, more than any other crypto exchange. Min Lin, Head of Binance for Latin America, commented: “We are honored to obtain this license, as Binance continues to work closely with regulatory agencies around the world to support global standards for the crypto and blockchain industry.
This announcement comes after months of dedication from our team to provide all information and proceed with the review process required by these agencies, demonstrating our commitment to the El Salvador market and our users. We thank the Central Bank and the National Commission for Digital Assets. Their adoption of blockchain technology has created a thriving sector in El Salvador that proves that security and innovation are complementary assets. Now, El Salvador joins countries around the world that have granted Binance a regulatory license."
Daniel Acosta, Binance General Manager for Colombia, Central America and the Caribbean, said: "These licenses allow Binance to expand the products and services offered, including options tailored to the needs of our customers in El Salvador. This is also a great opportunity for working with government authorities to support the adoption of crypto assets in the country, encourage financial inclusion and innovation, and ensure customer protection." El Salvador became the first country in the world to recognize bitcoin as legal tender in 2021 and approved legislation regulating the issuance of other digital assets by state parties and private entities.
