The first European country where the company has obtained permission to provide digital asset services is France.
The greenlight was granted by the country's market and banking authorities and arrived months after several regulatory setbacks that the exchange faced on the continent.
Effective regulation is essential for the mainstream adoption of cryptocurrencies, says Changpeng Zhao, also known as CZ, in a statement.
France's financial industry regulator said in November that if it wanted regulatory support for a regional hub in Paris, it had to focus on anti-money laundering compliance. The company did not have the written consent to operate in the UK. Germany also issued a similar warning.
European regulators have been busy trying to show their commitment to practice compliance and promote the region's blockchain ecosystem. In November, Binance said it would invest 100 million euros to support the development of the French and European blockchain and cryptocurrencies ecosystems.
Following Beijing's ban onCryptocurrencies, the company has largely left the country. Many Chinese-founded firms have moved their core management to Singapore to be closer to their customers. In December, it was reported that the company would be closing its operations in Singapore and withdrawing its license application.
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