Binance US Receives Money Transmitter License In Nevada
- Binance US has announced that it has received a Money Transmitter License from the Nevada Department of Business and Industry, Financial Institutions Division.
- Nevada is now the 17th jurisdiction in which the US arm of the world’s biggest crypto exchange has acquired a Money Transmitter License in 2022.
The US arm of the world’s biggest cryptocurrency exchange, Binance US, has announced that it has received a Money Transmitter License from the Nevada Department of Business and Industry, Financial Institutions Division.
The aim of the firm is to provide regulated payment services to all the 50 states and territories in America, which marks a major step in the crypto expansion. This development has come under the leadership of the new CEO of the exchange, who has been appointed recently.
“We continue to take the necessary steps to ensure we are operationally compliant across the United States, our customers’ assets are secure, and our platform is safe and transparent. Receiving our Money Transmitter License in Nevada is further evidence of our ongoing compliance efforts, and we are thankful for the time and trust of the Nevada Department of Business and Industry.”
said Brian Shroder, Chief Executive Officer of Binance US.
As mentioned in the announcement, Nevada is now the 17th jurisdiction in which the US arm of the world’s biggest crypto exchange has acquired a Money Transmitter License in 2022. Earlier it had received the same from West Virginia, Connecticut, Wyoming, Rhode Island, Idaho, and Puerto Rico among other states as well.
Through all the approvals from local authorities, Binance US now operates in over 46 states, as well as Puerto Rico in the US and aims to expand further as well. The firm currently offers more than 120 cryptocurrencies that investors can buy and sell.
Binance US added that in order to further its goal to “serve as the most customer-centric organization,” the firm has expanded its customer support team and tools as well. It has also starting offering “low – and even zero – fees, and introduce more products and services such as staking, with an APY of up to 15%.”
Additionally, Binance US is also gunning for an Initial Public Offering in the United States following the footsteps of Coinbase, which had recently met with troubled with the SEC. One of the major reasons why Shorder was appointed as the CEO last year was his positive view on Binance US’ public listing.
Meanwhile, 2022 has been a wonderful year for the parent crypto exchange headed by Changpeng Zhao. It has recently gained regulatory approval from authorities in Italy and France while also gaining In-Principle Approval from the Astana Financial Services Authority (AFSA) to operate a Digital Asset Trading Facility and Provide Custody in the Astana International Financial Centre (AIFC).
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
