Binance Scores Another Regulatory Approval in New Zealand

The world’s largest crypto exchange Binance has secured a registration license from New Zealand authorities and also set up a local entity in the country.

The latest development is in line with Binance’s continuous efforts to expand its services globally.

• Binance CEO Changpeng Zhao, also known as “CZ,” announced the news in a video posted on the company’s official Twitter handle on Thursday (September 29, 2022). According to the exec, the exchange obtained registration to operate as a financial services provider in New Zealand.
• In addition, the crypto giant launched a new local entity in the country called Binance New Zealand. The company chief said:

“New Zealand is an exciting market with a strong history of fintech innovation, and our team of Binancians in New Zealand is working hard to bring the freedom of crypto to Kiwis.”

• The latest development comes shortly after Binance revealed plans to reenter the Japanese market after four years, following the nation’s relaxed crypto regulatory framework.
• Binance, meanwhile, continues to work with different regulators to expand its presence globally. The crypto exchange recently obtained a minimal viable product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). Earlier in the year, Binance secured a virtual asset license to service approved investors and professional financial service providers.
• The exchange giant also got in-principle approval from Kazakhstan regulators, and other regulatory approvals in France, Italy, and Spain