Binance.US awarded money transmitter license in Puerto Rico

Binance.US awarded money transmitter license in Puerto Rico

Puerto RicoIt becomes the fourth jurisdiction in AmericaTo grant a money transmitter licenseTo Binance.US, Americanarm of the cryptocurrency exchange Binance. OtherStates that issued operational licences Binance.US includes Wyoming, Connecticut West Virginia. 

BinanceAs a second attempt,.US was launched by BinanceCEO Changpeng ZhaoInvestors inThe United StatesThe nation was banned Binance’s primary operations, citing regulatory concerns. TheNew licenseFrom Puorto Rico further strengthens CZ’s vision “to be licensed everywhere.”

AccordingThe announcement reads: money transmitter licenseWas awardedTo Binance.US by The Puerto Rico OfficeYou can find the CommissionerThis is Financial Institutions (OCIF). While highlighting the company’s intent to obtain operational licenses inAll 50 U.S. territories and states BinanceCEO. Brian Shroder said that “Puerto Rico, in particular, isAn important market for the growth of crypto.”

As a money transmitter, Binance.US allows users to send and receive funds.

On April 6, BinanceAfter raising more than $200 million from investors,.US was able to complete its first-ever external financing and reach a valuation of $4.5 billion. Circle Ventures.

TheThe company plans to use the funding to improve its existing systems and launch a new product line. TheThe announcement also emphasizes that Binance.US operates inThere are seven territories and 45 states.

Related: BinanceReceives inOperate only with -principle Approval in Abu Dhabi

Binance’s aspiration to conduct business as a regulated entity has seen positive development inThe Middle EastAs well.

On April 10, Abu DhabiBecomes the third jurisdiction inThe Middle EastAward BinanceAn inTo operate as a regulated cryptocurrency exchange, you must have the principle approval. PreviouslyThe exchange was approved by Bahrain Dubai.

As CointelegraphPreviously reported Abu Dhabi Global Market’s (ADGM) approval allows BinanceYou can be a broker-dealer in digital assets, including cryptocurrencies.