The head of Binance’s Latin America division, Guilherme Nazar, said that by registering with the financial regulator, the exchange has provided Argentines with the opportunity to legally sell and buy cryptocurrencies. He emphasized that Binance is committed to complying with the regulatory requirements of both Argentine and international regulators.
To be listed as a regulated crypto service in Argentina, platforms are required to comply with anti-money laundering (AML) and anti-terrorist financing (CFT) regulations. In addition, crypto exchanges are required to carry out a personal identification procedure (KYC).
“Compliance with legal regulations is the key to the development of the crypto industry and the safe introduction of cryptocurrencies into society. Binance has received licenses in 20 jurisdictions, and now in Argentina. This country is a key market for Binance. We will continue to work closely with local authorities for the benefit of the industry and society as a whole,” Nazar said.
Binance’s registration occurred against the backdrop of a meeting between Argentine President Javier Milei and El Salvadoran President Nayib Bukele – they both support Bitcoin. In June, Miley said the first cryptocurrency could boost Argentina’s weak economy. Miley proposed legalizing Bitcoin back in 2023, citing the example of El Salvador.
Source: Bits
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