The largest crypto exchange in the world, Binance, is making historic strides as the first legal crypto exchange in El Salvador. The company has admitted to receiving a Bitcoin Service Provider (BSP) license from Banco Central de Reserva and a full Digital Assets Service Provider (DASP) license from El Salvador’s National Commission of Digital Assets thus broadening its reach to 18 separate markets. "In illustrating how safety and modernity can be combined, the thriving crypto environment of El Salvador informed our decision to grant this license", claims Min Lin – Binance’s Head of Latin America.
The country of El Salvador made an astounding call in 2021, by deeming cryptocurrency as a legal tender. Further enforcing adoption was their move allowing state and private entities to conditionally issue digital assets under the power of a law. Currently, Binance not only has licenses in El Salvador, but also in a wide array of other nations.
All these promising happenings are being challenged by the dissent turned towards Binance from US government law enforcement worldwide. Binance endured another wave of acusations from the Security and Exchange Commison back in June, related to them offering BNB and BUSD tokens and operating without a renewed dispensation.
