Binance became the first fully licensed cryptocurrency exchange in El Salvador after receiving Bitcoin Services Provider license (BSP) and Digital Assets Services Provider license (DASP) from the domestic regulators. The world’s largest cryptocurrency exchange – Binance – announced that the obtained authorization from El Salvador’s central bank and its National Commission of Digital Assets represents a “milestone achievement” in the company’s goal to gain regulatory approval across key global markets. The exec praised El Salvador’s push into the cryptocurrency industry, adding that the exchange conducted the necessary due diligence before applying with the local agencies. He argued that the company’s latest license will enable it to offer crypto services and products “tailored” to the needs of Salvadoran clients. El Salvador, led by Bitcoin-loving President Nayib Bukele, became the first country to declare the primary cryptocurrency legal tender.
