Binance receives full license in El Salvador, becoming first compliant cryptocurrency exchange

Binance is pleased to announce that the Banco Central de Reserva has granted Binance a Bitcoin Service Provider License (BSP) and its National Cryptoassets Commission (Comisión Nacional de Activos Digitales) has granted Binance the country’s first non-temporary Cryptoasset Service Provider License (DASP), making Binance the first fully licensed cryptocurrency exchange in El Salvador. This is another milestone in Binance’s continued efforts to obtain local licenses and permissions in important markets around the world.

With these compliance licenses, Binance is approved and registered in 18 markets around the world, including France, Italy, Spain, Sweden, and Dubai, more than any other cryptocurrency exchange. Min Lin, Binance’s head of Latin America, said: “We are honored to receive these two licenses. Binance will continue to work with global regulators to support global standards for the cryptocurrency and blockchain industry. For months, our team has continued to work hard to provide regulators with all the information and conduct the due diligence they require. This result demonstrates our commitment to the El Salvador market and users.

We express our gratitude to the Central Reserve Bank and the National Crypto-Assets Council. Their adoption of blockchain technology has created the conditions for the industry to flourish in El Salvador, proving that 'security' and 'innovation' can go hand in hand. Now, El Salvador joins the list of countries around the world that has granted Binance a regulatory license. "These licenses enable Binance to provide Salvadoran users with products and services tailored to their specific needs," said Daniel Acosta, Binance's general manager for Colombia, Central America and the Caribbean.

It is also an excellent opportunity to work closely with Salvadoran government agencies to support the adoption of crypto assets in the country, promote financial inclusion, innovation and ensure consumer protection. El Salvador became the first country in the world to recognize Bitcoin as legal tender two years ago in 2021 and has passed laws regulating the issuance of other crypto assets by the state and private entities.