Binance Becomes First Licensed Crypto Exchange in El Salvador

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The biggest decentralized Ethereum exchange, Uniswap, has been integrated into Coinbase’s Base network, allowing users to swap tokens on the Layer 2 network. Uniswap has registered over 11,700 transactions and $3.65 million in trading volume since its integration, giving it the fourth-largest DEX by volume on Base. On Thursday, the public will be able to use the Base network as part of the “Onchain Summer” event. Despite initial security breaches, Base has transferred over $100 million in assets to the network.

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Binance has been granted a Bitcoin Services Provider Licence (BSP) and a Digital Assets Services Provider Licence (DASP) by El Salvador’s central bank and crypto regulator, allowing the exchange to provide custodial services, process crypto payments, provide digital wallets, and operate a digital asset exchange platform. This measure follows El Salvador’s pro-crypto position, in which Bitcoin was designated legal cash in September 2021. Binance is the first cryptocurrency exchange licensed by the NCDA to operate in the country. Despite regulatory difficulties in the United States and Europe, Binance continues to pursue regulatory permission globally, having secured licenses in 18 locations, including France, Italy, Spain, Sweden, and Dubai.

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