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El Salvador Approves Binance’s Bitcoin Digital Asset Services

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The cryptocurrency exchange claimed that it currently has operating permits in 18 nations.

In an effort to increase its credibility globally, Binance got two licenses to conduct business in El Salvador, the cryptocurrency exchange reported on Tuesday, adding that it now has licenses in 18 markets.

Binance received a Bitcoin Services Provider (BSP) license from the Central Bank of El Salvador (Banco Central de Reserva), and a Digital Assets Services Provider (DASP) license from the Salvadoran National Commission on Digital Assets.

“These licenses allow Binance to expand the products and services offered, including options tailored to the needs of our customers in El Salvador,” said Daniel Acosta, general manager of Binance’s Colombia, Central America, and Caribbean region, in a statement.

El Salvador’s Legislative Assembly passed a law governing digital securities in January, setting up the foundation for the Central American nation to issue bonds backed by bitcoin dubbed as “Volcano Bonds.” Bitfinex announced in April that it had received the nation’s first license for a digital asset service provider.

Jay Solano

Jay Solano

Jay is a crypto and NFT enthusiast dedicated to exploring the dynamic world of digital assets. As a leading crypto blog writer, he relishes sharing his knowledge on the latest trends, breakthroughs, and investment opportunities in the blockchain world.

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