Binance has entered its 20th jurisdiction, Argentina, to expand its already massive global presence.
Global crypto exchange leader Binance announced that it has secured approval to operate in Argentina from the country’s National Securities Commission (CNV). This move, placing it in the nation’s Virtual Asset Service Providers Registry, marks the exchange’s expansion into its 20th jurisdiction.
The exchange recently received licensing from various other countries, including India, Kazakhstan, and Indonesia. Binance also operates in leading crypto jurisdictions like Dubai, France, El Salvador, and Japan, among multiple others.
With the blessings of the Argentinian regulator, Binance can now offer its full suite of services and products via its web and mobile platforms to Argentina’s citizens. In a blog post, Binance’s Head of Latin America, Guilherme Nazar, mentioned, “Argentina is a key market for Binance,” adding, “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.”
Nazar also spoke of how Binance’s commitment to asset safety and regulatory compliance will allow it to advance the crypto industry in Latin America and elsewhere. Binance’s blog post also highlighted its comprehensive anti-money laundering (AML), combatting the finance of terrorism (CFT), and know-your-customer (KYC) process, alongside its “industry-leading Financial Crime Compliance (FCC), ensure it meets global regulatory standards.
Binance’s CZ Exits Jail and Breaks His Silence
The exchange’s entry into the Argentinian crypto market follows its founder, Changpeng ‘CZ’ Zhao, walking free from US prison last Friday after serving his four-month stint. CZ was sentenced for his role in operating Binance without receiving needed licenses, not paying heed to US AML regulations, and violating sanctions. He also paid a hefty $50 million. Binance was also fined for a whopping $4 billion. CZ started his prison stint in June, with the order coming a few months earlier in April.
As the crypto community awaited what he had to say following his exit from prison, CZ took to X to address his followers about what he would be venturing into. He is banned from operating or managing Binance—the community was naturally keen on what he may pivot to.
“Let me chill for a bit. Then figure out the next steps,” read CZ’s X post. However, he mentioned that Giggle Academy, an educational platform he started before serving his sentence, would “be a big part of my life for the next few years.” Beyond that, he looks to invest in blockchain, AI, and biotech.
