The cryptocurrency market in Argentina could soon have a new provider, Binance, which is seeking approval to enter the South American country.
In recent statements to local media Télam, the exchange’s regional vice president for Latin America, Min Lin, indicated that they have every intention of “being regulated” in Argentina.
Lin stressed that Binance’s entry into the Argentine market could materialize once “a specific law is approved to license cryptocurrency platforms in that country.”
Argentina is currently advancing the project to reform the law on the prevention of crimes such as money laundering and terrorist financing, focused on creating a national registry for cryptocurrency service providers.
The regional vice president of the exchange has revealed that they periodically maintain contact with regulators around the world in order to “introduce new regulatory frameworks without sacrificing innovation and user protection.” However, he did not clarify whether this occurs with Argentine regulators.
The nation is considered by Binance to be one of the top crypto adoption markets. They place it among the first three countries, along with Brazil and Mexico, with which they are currently working in the region.
(Reference image source: Kanchanara, Unsplash)