French regulator
reacted to the statement of the head of the marketplace Changpeng Zhao that Paris is a “natural choice” for the location of the official representative office of Binance. AMF said it is ready to allow Binance to open its Paris office, provided the exchange guarantees compliance with anti-money laundering and anti-terrorism reporting requirements.
The governor of the central bank of France, Francois Villeroy de Galhau, believes that it is important for the regulator to know that the cryptocurrency company has sufficient resources to effectively combat money laundering and terrorist financing.
“This is a sign of the innovative dynamism of the Parisian market, but it obviously depends on guaranteed trust and reliability. This is what will guide the ACPR (French Dispute Resolution and Supervision Authority) and AMF in their actions, especially on the main issue of combating money laundering. ”
The other day, Binance CEO Changpeng Zhao announced that his company hopes to receive AMF approval in 6-12 months. He added that more than 600 of Binance’s 3,500 employees are responsible for regulatory compliance and relationships with various regulatory bodies.
In early November, Binance and the non-profit association France FinTech joined forces to develop a blockchain in France with € 100 million in funding. The project was named “Objective Moon” because its main goal is to support the development of the crypto industry in France and other European countries. Then Zhao said that this step could bring France to the first place in the cryptocurrency space.
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