Cryptocurrency exchange Binance continues to hit hard on the global stage, with another victory in Argentina marking its 20th regulatory milestone. In a context where Argentines' trust in institutions is shaken, this integration raises some questions about the role of the State and the regulation of cryptocurrencies in Argentina.
Binance wins in Argentina: A 20th milestone achieved
Binance continues its global expansion following its regulatory successes in India, Kazakhstan and Indonesia, now with an integration in Argentina.
Argentina's National Securities Commission (CNV) recently included Binance in the country's register of virtual asset service providers.
Considered one of the largest exchanges in the world, Binance is delighted with this new integration, calling it “ 20th global regulatory milestone “.
Argentina is a key market for Binance. We will continue to work closely with authorities to develop the industry in a more sustainable and secure manner for the benefit of the crypto community and society as a whole.
This inclusion strengthens Binance's position in one of the most important markets in Latin America and supports its global expansion strategy.
Thanks to this registration, Argentines will be able to access all of Binance's services and products via its website and application.
👉 Find our latest report – What about the adoption of Bitcoin in Argentina?
This progress is part of the Argentine government's desire to identify actors, physical or moral, offering services linked to cryptocurrencies, through the status of Virtual Asset Service Providers (PSAV).
Some believe that this political decision is influenced by pressure from international institutions, a stark contrast to the speech of a man who campaigned on his rejection of state interference in the affairs of the people.
After years of political disappointments, trust in the social contract has eroded, and many Argentines oppose increased oversight in the management of cryptocurrencies.
The latter in fact represent the last resort in the face of the devaluation of the peso, their national currency.
Binance: the benchmark crypto exchange platform
Binance: a strong commitment to regulatory compliance
Ex-CEO Changpeng Zhao was released from prison last Friday after serving 4 months for money laundering charges within the platform.
In this context, Binance deemed it relevant to highlight its commitment to compliance and regulation in its press release.
Binance supports forward-looking regulation and believes it is essential to ensure crypto adoption advances as safely and responsibly as possible.
Presenting itself as a leader in the cryptocurrency industry, the platform reiterates its desire “to work closely with authorities to develop the industry in a more sustainable and secure manner for the benefit of the crypto community and society as a whole “.
👉 In the news – Changpeng Zhao, former CEO of Binance, speaks on his future plans
Indeed, Binance's compliance program is designed to meet the strictest global standards, particularly in terms of money laundering (AML) and the fight against the financing of terrorism (CFT), it is recalled.
The company also found it good to point out that their Financial Crime Compliance (FCC) unit is positioned as a leader in the sector.
The latter aims to investigate crimes linked to cryptocurrencies in collaboration with the authorities in order to guarantee a healthy and safe ecosystem.
To conclude, Guilherme Nazar explains that Binance's security and regulatory strategy is the best possible approach to advance cryptocurrencies locally and globally and ” create a transparent and efficient financial environment “.
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Source: Press release
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