Binance now has 20 regulatory approvals following its recent registration with Argentina’s National Securities Commission(CNV). The exchange will now launch its complete range of services in the country.
Richard Teng, CEO of Binance, confirmed the regulatory approval in Argentina in a post on October 1, emphasizing the exchange’s commitment to a sustainable, secure, and safe blockchain ecosystem for its users in Latin America and worldwide.
Binance expands its market to Argentina
Argentine users can now access Binance’s full range of services following the approval from the country’s securities commission.
Guilherme Nazar, Binance’s Head of Latin America, said:
Argentina is a key market for Binance. We will continue to work closely with the authorities to develop the industry most sustainably and securely for the benefit of the crypto community and society as a whole.
– Guilherme Nazar
Nazar added that the exchange is committed to regulatory compliance and providing security to its users. He believes this commitment will elevate user protection standards and build a transparent, efficient financial environment.
Binance has already instituted strict anti-money laundering and counter-financing of terrorism policies. They’ve also added Know Your Customer (KYC) and Know Your Business (KYB) identification processes to enhance asset security and protect users.
Binance expands its markets after settling with the SEC to exit the US market
Before Argentina’s approval for the exchange, Binance Kazakhstan had already obtained a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA), becoming the first digital-asset platform in Kazakhstan.
Vishal Sacheendran, Head of Regional Markets at the exchange, acknowledged Kazakhstan as an innovative center and claimed the country’s regulatory policies would favor crypto trading.
In August 2024, Binance also returned to the Indian market after a long seven-month break. The exchange completed all necessary registration steps with India’s Financial Intelligence Unit (FIU-IND), returning its applications to India’s Google Play Store and Apple App Store by August 15.
However, in November 2023, Binance agreed to leave the US market. The exchange reached a $4.3 billion settlement with the SEC over anti-money laundering violations, with the then-CEO Changpeng Zhao stepping down after pleading guilty to all charges.
Zhao was also sentenced to four months in prison, which was completed. While Zhao has been released from jail, he will never manage or operate the exchange again following a lifetime ban.
