Binance granted crypto licenses to operate in El Salvador

Binance said Tuesday it received two licenses to operate in El Salvador as the embattled cryptocurrency exchange seeks to expand its global reach. El Salvador's central bank had approved Binance's application for a Bitcoin Services Provider license and the country's National Commission of Digital Assets gave it a non-provisional Digital Assets Services Provider license. The licenses will let Binance offer its crypto-related products and services in El Salvador, which made bitcoin ( BTC-USD ) legal tender in 2021 before the token's price roughly halved. At the time, the Latin American country also approved a law regulating the issuance of other digital assets by both the state and private entities. Binance now has approvals and registrations in 18 markets worldwide, it said , including France, Italy, Spain, Sweden and Dubai. The move comes as the exchange has been forced to pull out of a slew of other countries in the wake of stiffer crypto rules across. In June, Binance left the Netherlands after failing to obtain virtual asset provider registration in the country. Shortly after that, it was ordered by a markets regulator to cease crypto services in Belgium. More on Binance and El Salvador: Tether invests in renewable energy project to power El Salvador bitcoin mining Cryptos dip after report DOJ is considering fraud charges against Binance Binance said to lay off 1,000 workers in recent weeks Paysafe to stop supporting Binance in September