Binance, the world's largest crypto exchange by trading volume, has been registered as a recognized virtual asset service provider (VASP) with the National Securities Commission (CNV) of Argentina.
With this new regulatory status, users in Argentina can fully access the platform through both its website and mobile app.
Argentina is now the 20th country where Binance has gained regulatory approval, with the list also including India and Dubai.
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Guilherme Nazar, Binance's head for Latin America, highlighted the company's dedication to working within established regulations:
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.
Binance emphasizes the importance of progressive regulations, seeing them as essential for promoting the safe and responsible growth of cryptocurrency adoption.
In other Binance-related news, the company's founder and ex-CEO, Changpeng Zhao, recently concluded a four-month US prison sentence for breaches of Anti-Money Laundering (AML) regulations. Although he still wields influence in the company due to his majority ownership stake, he can't be involved in daily operations.
Zhao said that he will now focus on educational initiatives, investment in blockchain technologies, and charity, while Binance will continue moving forward with Richard Teng as the CEO.
