Binance Secured Regulatory Approval In France: Report

Binance secured regulatory approval in France and allows it to the custody of digital assets and operate a trading platform in the country so let’s have a closer look at our latest binance news.

Crypto exchange Binance secured regulatory approval in France as per the press release from France’s capital market regulator, the AMF. Binance is a registered Digital Asset Service Provider in France and it is permitted to the custody of digital assets and sell and exchange these assets while also operating a tradign platform for them so it is Binance’s first license in Europe as per the company’s blog post. The company is expanding its glboal operations and obtained provisional approval to operate as a broker in virtual assets in Abu Dhabi.

CryptoComapre’s monthly report shows that Binance controlled 30% of the one-third of the total amount traded on the spot platforms in March 2022. The reports from the glboal market real-time data provider CryptoCompare is the total spot market increased by 10.5% in March with a transaction volume reaching $1.6 trillion. The document revealed that about 69% of the total volume was accumulated by 15 of the world’s biggest exchanges like coinbase, Bitfinex, Binance, OKX, Huobi, and FTX.

Binance captured 30.2% of the total spot market volumes and processed about $490 billion in spot transactions with a 15% increase from the February volumes. While the figure is below the exchange’s record market share of 33.7% in 2021 and Binance still managed to dominate the spot market. Binance was followed by Coinbase and OKX and accumulated a spot market share of 5% and 4.75 and Coinbase handled $81.9 billion worth of spot transactions or down by 12% from the value the month prior and OKX with $75.9 billion.

Binance terminated accounts of Russian officials and stepped up its measures in complaince with the sanctions against them and their relatives that were responsible for the war against Ukraine. The Binance CEO Changpneg Zhao restated the importance of implementing these legal obligations and living up to the company’s commitments. Binance shut down the account of the daughter of Russian President Vladimir Putin’s spokesman Dmitry PEskov, Elizaveta Peskova a week sooner than the US authorities included that 24-hour-year-old s a part of the Kremlin elites subject to a new series of sanctions. Peskova claimed innocence saying that she got nothing to do with the situation.