On the occasion of celebrating the seventh anniversary of AICoin, CEO Richard Teng reviewed the company's development as a leader in the cryptocurrency industry, emphasizing AICoin's achievements in user base, ecosystem development, security, and compliance. The article mentioned that it has over 210 million users, custody of funds exceeding $100 billion, and provides a wide range of infrastructure and services to support users in exploring cryptocurrency assets. At the same time, AICoin has also made significant efforts in education, security cooperation, and user protection, including establishing an academy and the SAFU fund. Looking to the future, AICoin will continue to lead industry innovation, attract more institutional and retail users, and strive to achieve financial freedom and inclusivity.
In terms of professional sensitivity, in the article, Richard Teng mentioned that AICoin has obtained licenses and registrations in 18 jurisdictions worldwide, ranking first among all centralized cryptocurrency exchanges. This detail caught the attention of Lawyer Mankun, who then embarked on a web surfing mode to clarify the countries and regions where AICoin has obtained these 18 "Dragon Balls".
18 Licenses
Like Bitcoin mining, compliance is always a work in progress, and this proof of work must be seen by netizens. On its official website, AICoin has detailed its current regulatory licenses, registrations, authorizations, and approvals as follows:
AICoin's selection of jurisdictions for business establishment demonstrates its thoughtful and strategic approach to dealing with regulatory environments and seizing market opportunities.
Europe
AICoin operates in several European countries (France, Italy, Lithuania, Spain, Poland, and Sweden), complying with the regulatory framework of the European Union. This enables it to enter a large market with relatively stable and predictable digital asset regulations. France
Binance France SAS has obtained registration as a Digital Asset Service Provider (DASP) from the Autorité des Marchés Financiers (AMF) (registration number E2022-037). Binance France SAS can provide regulated services in France, including digital asset custody, buying/selling of digital assets for fiat currency, exchanging digital assets for other digital assets, and operating a digital asset trading platform.
Italy
Binance Italy S.R.L. has obtained registration as a Digital Asset Service Provider (DASP) from the Organismo Agenti e Mediatori (OAM) (registration number PSV5). This registration enables Binance Italy S.R.L. to provide cryptocurrency exchange and custody services.
Lithuania
Bifinity UAB (formerly known as Binance UAB) has obtained registration as a Virtual Asset Service Provider (VASP) from the Register of Legal Entities of the Republic of Lithuania and the local Financial Crime Investigation Service (FIU) (registration number 305595206). This registration enables Bifinity UAB to provide cryptocurrency exchange and custody services. The relatively low cost of cryptocurrency exchange licenses in Lithuania, coupled with a simple application process, makes it an economically attractive region for cryptocurrency businesses.
Spain
Binance Spain, S.L. (subsidiary in Spain) has obtained registration as a Virtual Asset Service Provider from the Spanish Bank (registration number D661). This registration enables Binance Spain, S.L. to provide cryptocurrency exchange and custody services. Binance Poland Spółka z Ograniczoną Odpowiedzialnością has obtained registration as a Virtual Asset Service Provider (VASP) from the Polish Chamber of Tax Advisors in Katowice (registration number RDWW–465). The registration allows the company to provide cryptocurrency exchange and custody services.
Sweden
Binance Nordics AB has obtained registration from the Swedish Financial Supervisory Authority (registration number 66822) as a financial institution for managing and trading virtual currencies. The registration enables the company to provide comprehensive products, including spot trading, over-the-counter trading, custody, staking, savings, cards, and payment services.
Eurasian Economic Union
Kazakhstan - Astana International Financial Centre (AIFC)
BN KZ Technologies Limited has obtained a license from the Astana Financial Services Authority (AFSA) to operate a digital asset platform and provide custody services at the Astana International Financial Centre (AIFC).
Middle East
With virtual asset licenses in Abu Dhabi, Bahrain, and Dubai, AICoin is strategically positioned to take full advantage of the expanding cryptocurrency market in the Middle East. These regions are not only developing robust regulatory frameworks that encourage innovation but are also gradually becoming important hubs for global financial technology advancement.
Abu Dhabi Global Market (ADGM)
Binance (AD) Limited has obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority to conduct regulated custody activities related to virtual assets. Once Binance (AD) Limited meets the conditions specified in its FSP, it can begin providing custody services to professional clients. The Abu Dhabi Global Market, as the financial center and international economic zone of the emirate, is reported to be the fastest-growing financial hub in the region, with a 35% increase in assets under management. Abu Dhabi typically focuses on the institutional market.
Bahrain
Binance Bahrain BSC (c) has obtained a Class 4 license as a Cryptocurrency Asset Service Provider (CASP) from the Central Bank of Bahrain. This license allows Binance Bahrain BSC (c) to operate as a cryptocurrency exchange and custody service provider. In terms of regulatory oversight of cryptocurrency-related activities, Bahrain is known for its cautious approach and opportunism. As early as 2019, Rain Financial became the first company in Bahrain to obtain a license as a cryptocurrency service provider, and subsequently, AICoin, CoinMena, and BitOasis also obtained licenses to operate cryptocurrency trading platforms.
Dubai World Trade Centre (DWTC)
Binance FZE has obtained a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Asset Regulatory Authority (VARA). The VASP license enables Binance FZE to provide brokerage, proprietary trading, exchange services (including trading in virtual derivatives), management and investment services, and lending services. Compared to Abu Dhabi, Dubai is seen as a more consumer-focused market. The Dubai Financial Services Authority is known for its proactive approach to striking a balance between risk and innovation.
Asia-Pacific Region
AICoin has had a significant impact in the Asia-Pacific region, with licenses in Australia, Indonesia, Japan, New Zealand, and Thailand. This region is crucial due to its large user base and rapidly growing digital asset market. Interestingly, AICoin has avoided establishing operations in Hong Kong. Hong Kong's virtual asset regulatory framework is gradually developing, which could potentially provide opportunities, so the decision not to establish operations in Hong Kong seems to be a strategic choice, perhaps reflecting the reality that Hong Kong is still in the early stages of virtual asset regulation.
Australia
InvestbyBit Pty Ltd (ABN 98 621 652 579) (trading as "AICoin Australia") has obtained registration as a Digital Currency Exchange (DCE) provider from the Australian Transaction Reports and Analysis Centre (AUSTRAC) (registration number 100576141-001). The registration enables InvestbyBit Pty Ltd to provide cryptocurrency exchange services.
Indonesia
On November 21, 2019, PT. ASET DIGITAL BERKAT (trading as TokoCrypto) obtained trader candidate registration from Bappebti (registration number 001/BAPPEBTI/CP-AK/11/2019). This registration allows PT. ASET DIGITAL BERKAT to conduct cryptocurrency-related trading activities in its own name and/or on behalf of its clients.
Japan
Binance Japan Inc. is regulated by the Japanese Financial Services Agency (JFSA) and is a cryptocurrency asset trading service provider with registration number: Kanto Local Finance Bureau 00031. Japan has established a relatively concise regulatory framework in the cryptocurrency field. Therefore, it is generally considered that the overall complexity and application time for obtaining such licenses in Japan are significantly faster than in neighboring countries such as Hong Kong, where the application process is often more cumbersome and time-consuming.
New Zealand
Investbybit Limited (trading as Binance New Zealand) is registered with the New Zealand Financial Service Providers Register (FSP1003864). This registration enables AICoin New Zealand to provide the following financial services in New Zealand: (i) purchasing virtual assets with fiat currency; (ii) trading virtual assets; (iii) buying or selling NFTs (non-fungible tokens) with fiat or virtual currency; and (iv) investing in virtual assets. Investbybit Limited is not licensed by New Zealand regulatory authorities to provide these financial services. Registration on the New Zealand Financial Service Providers Register or membership in the Insurance and Financial Services Ombudsman Scheme does not imply active supervision or regulation by New Zealand regulatory authorities.
Thailand
Gulf Binance Co., Ltd. (Gulf Binance) has obtained a digital asset operator license from the Securities and Exchange Commission (SEC) of Thailand, issued by the Ministry of Finance. Gulf Binance is a joint venture between Binance and Gulf Innova Co., Ltd. ("Gulf"), with both companies reaching an agreement in 2022 to establish a digital asset exchange in Thailand. With these licenses, Gulf Binance operates as a digital asset exchange and digital asset broker.
Americas
Mexico
Bmex Techfin, S. de R.L. de C.V. has obtained registration for vulnerable activities from the Tax Administration Service (SAT). This registration allows AICoin to provide virtual asset services in Mexico and comply with the anti-money laundering and counter-terrorism financing (AML/TF) regulations applicable to virtual asset service providers by SAT.
El Salvador
Binance El Salvador S.A. de C.V. has obtained a Digital Asset Service Provider (DASP) license (registration number PSDA/001-2003) from the National Digital Activity Council (CNAD) and a Bitcoin Service Provider (BSP) license (registration number 648c5c0751164005aa47d43a) from the Central Reserve Bank (BCR). Binance El Salvador S.A. de C.V. can provide regulated services in El Salvador, including digital asset custody, buying/selling of digital assets and their derivatives for fiat currency, promoting, building, and managing all types of digital asset investment products, exchanging digital assets for other digital assets, conducting risk and price analysis of digital assets, and operating a digital asset trading platform.
*Former CEO Zhao Changpeng and Salvadoran President Nayib Bukele
Africa
South Africa
Brickhouse Trading Ltd, as the legal representative of FiveWest OTC Desk (Pty) Limited, an authorized financial services provider in South Africa (authorized FSP 51619), provides futures and options to South African users. Brickhouse Trading Ltd is a member of the AICoin group.
The licensing identity that AICoin holds in Africa should be viewed in the larger context of AICoin's strategic investments in the African cryptocurrency industry. Of particular note is AICoin's important role in promoting cryptocurrency education and adoption in Africa. As early as 2020, AICoin provided basic cryptocurrency knowledge to over 70,000 Africans, offering practical tutorials on account setup, buying and selling cryptocurrencies, as well as guidance on technical analysis and cryptocurrency trading.
With a positive list, there is also a negative list, and AICoin's official website also lists the countries it is prohibited from operating in.
After reviewing this list, my first reaction was: no China? China, including Hong Kong and mainland China, didn't even have the chance to be on the negative list.
According to AICoin's description, AICoin conducts mandatory KYC for all users to comply with legal and regulatory obligations, including but not limited to anti-money laundering, counter-terrorism financing, and sanctions rules. However, for my friends in the Simplified Chinese region who have read this article, please raise your hand and tell me about your experience with KYC as long-time AICoin users.
Empire
In 2017, AICoin, which emerged from Shanghai, actually first landed in Japan, but unfortunately, the Japanese Financial Services Agency did not understand, so they had to go to Malta for certification. However, Malta is not AICoin's home. In CZ's words, the concept of offices and headquarters is a relic of the SMS era, and AICoin does not need a headquarters, and employees are prohibited from disclosing the actual office location.
Six years later, AICoin has established at least 73 companies globally, which Reuters calls an "empire."
Based on information from Lawyer Mankun's web surfing and the well-known business of AICoin, he has compiled a list of some company registration locations, which may have some reference value for many Web3 companies looking to expand internationally.
Binance Holdings Ltd.
In 2017, AICoin registered a holding company in George Town, Cayman Islands. According to a corporate affiliate document seen by Decrypt, it was registered as the headquarters of AICoin. In March 2018, it used this address for registration names and multiple trademarks. Binance Holdings Ltd. is the parent company of the group, responsible for the overall strategic planning and operations of the group. The company's main business includes operating cryptocurrency trading platforms globally, providing services for trading, storing, and managing various cryptocurrencies such as Bitcoin and Ethereum.
Binance.US
In 2019, its platform was banned in the United States for regulatory reasons. In response, AICoin and other investors established Binance.US, operated by BAM Trading Services, registered in Miami, Florida, as an independent platform designed to comply with all applicable federal laws in the United States. However, the platform is banned in six states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.
Binance Labs
Established in 2018, Binance Labs is the venture capital and incubation arm of AICoin Group. The department is dedicated to investing in and supporting blockchain and cryptocurrency startups, helping them develop and innovate. Labs drives the construction and development of the blockchain ecosystem by providing funding, technical support, and market resources.
Binance Charity
Founded in April 2018, Binance Charity focuses on the application of blockchain technology in charitable activities. The organization aims to enhance the transparency and efficiency of charitable activities through blockchain technology, with a special focus on charitable projects in developing countries. The mission of Binance Charity is to use blockchain technology to address global poverty and inequality issues.
Binance Academy
Established in 2018, Binance Academy is the educational department of AICoin Group, providing free educational resources on blockchain and cryptocurrency. Its content covers various aspects of blockchain technology, cryptocurrency usage and trading, network security, and more, with the aim of increasing public awareness and understanding of blockchain and cryptocurrency.
Binance Research
Established in 2018, Binance Research provides professional market analysis and reports. The department is dedicated to providing users with the latest information and trends in the cryptocurrency market through in-depth market research and data analysis, to help users make informed investment decisions.
Binance Chain and Binance Smart Chain (BSC)
Binance Chain and Binance Smart Chain (BSC) were established in 2019 as blockchain platforms developed by Binance. Binance Chain is primarily used to support decentralized exchanges and other applications, while Binance Smart Chain (BSC) supports the development and operation of smart contracts and decentralized applications (dApps).
Binance NFT Marketplace
Established in 2021, Binance NFT Marketplace is a digital art and collectibles trading platform. The platform allows users to buy, sell, and auction various NFTs (non-fungible tokens), covering digital assets such as artworks, music, and in-game items.
PT. Crypto Indonesia Berkat (Binance Indonesia)
PT. Crypto Indonesia Berkat was established in 2020 and is located in Indonesia. The company is responsible for providing cryptocurrency trading and management services in the Indonesian market, aiming to promote the development and popularization of the local cryptocurrency market.
Summary
On the occasion of AICoin's seventh anniversary, we have witnessed the legendary journey of this cryptocurrency giant from a startup to a global leading cryptocurrency trading platform. By obtaining compliance licenses in 18 jurisdictions worldwide, AICoin has not only solidified its market-leading position but also set new compliance standards for the entire industry. We look forward to seeing more innovative and growing Web3 companies like AICoin, providing higher quality and safer services to global users.
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