Crypto exchange Binance has announced that its mobile and web application is now “fully available” to users in Argentina after it was registered as an official crypto service provider in the country.
In an announcement shared with Cointelegraph, Binance highlighted that it had been incorporated into the Argentine virtual asset service provider (VASP) registry of the National Securities Commission (CNV). The exchange said this is its 20th registration with regulators worldwide.
This follows its registrations in Kazakhstan, India and Indonesia. On Sept. 9, Binance subsidiary Tokocrypto received its official license from Indonesia’s Commodity Futures Trading Regulatory Agency.
The announcement highlighted that the registration allows the company to offer its full suite of services to users in Argentina. According to Binance, its mobile application and website are now “fully available to Argentine users.”
Binance’s head of Latin America, Guilherme Nazar, said in the announcement that the company supports “forward-looking regulation” and believes it would ensure that the industry’s adoption continues safely.
The executive also said that the company sees Argentina as an important market, as users in the country are open to testing new technology. Nazar explained:
“Argentinians are tech savvy, open to testing innovations that help with their concrete needs and have been showing they are thirsty for tools that allow them to use crypto in their daily lives.”
Nazar added that the country is also one of the markets with the “highest potential for crypto adoption growth.” The executive said this makes it a “key market” for the crypto exchange.
The executive highlighted that compliance is a key part of its strategy. Nazar said that they believe this would allow them to contribute to developing local and global standards for protecting users.
Related: Debunking the ‘Binance manipulator’ theory: 3 reasons why the allegation falls short
Meanwhile, the crypto exchange’s founder and former CEO Changpeng Zhao has recently walked free from a United States prison. On Sept. 27, the former Binance CEO was freed after serving four months for Anti-Money Laundering violations.
While Zhao has been released from prison, the former Binance CEO is prohibited from managing or operating the exchange. On Sept. 5, the incumbent Binance CEO Richard Teng said that Zhao had received a lifetime ban from managing and operating the crypto exchange.
Magazine: Deposit risk: What do crypto exchanges really do with your money?