Binance has been having trouble getting all regulatory approvals and licenses from regulators worldwide for some time now. In another bid to operate in Spain, the exchange has now stopped offering crypto derivatives services
Approval in Spain
Binance is reportedly currently awaiting approval from the Spanish regulator, ComisiĆ³n Nacional del Mercao de Valores (or CNMV for short).
As a result, the drop-down menu for derivatives has now been removed from Binance’s Spanish website. However, this feature will still be available in the global version of the popular crypto exchange. Removing this menu probably meets one of the requirements set by CNMV.
While it is not known if the option will be back in Spain, Binance may be bringing back the now removed options after receiving the legal green light to operate in the country.
Approval in France
Although Binance has seen a minor setback in Spain due to regulatory delays, the financial authority of neighboring France called AutoritƩ des marchƩs financiers (AMF) approved cryptocurrency exchange Binance as a registered digital asset service provider.
This will further expand Binance’s global business. About a month ago, Binance also received the approval in principle to operate in Abu Dhabi. With this, the crypto exchange is making great strides in obtaining their regulatory approvals and licenses.
ā @Binance just got approved for the France VASP (Virtual Assets Service Provider) registration.https://t.co/DwqZrxq3bS pic.twitter.com/Eebkc7OhRV
ā CZ š¶ Binance (@cz_binance) May 4, 2022