Binance Is Going To Obtain A License In France

Binance CEO said the company is going to apply for the French PSAN license. Speaking with Charlie MERAUD, CEO of Woorton, a variety of topics were raised, including Binance's commitment to keeping up with French law and Binance's future plans. Also Binance's operations in Europe, in particular, in France were discussed.

New French legislation requires companies to grant licenses for digital asset services by December, according to Meraud. However, it may not be simple. Meraud noted that not all French companies manage to do this at this stage, so it is difficult to imagine foreign companies in such a situation.

In 2019, the French government began implementing cryptocurrency-related regulation with a focus on exchanges. In a document published in April 2020, DLAPiper states that Digital Asset Service Providers (DASP), or PSAN in French, must be licensed in France.
This means that Binance also needs to obtain a PSAN license to operate in the country.

Image: Cryptocurrency Tech