Binance is the largest crypto exchange in the world. El Salvador is the first country in the world to legalize bitcoin. Now both starts a new chapter.
Exit Germany Enter El Salvador.
Binance war regularly denied licence in Germany to operate its Business, but in El Salvador it becomes the first platform to obtain licence from Central Reserve Bank for the Bitcoin Services Provider (BSP), and from the National Commission of Digital Assets, for Digital Assets Services Provider (DASP) .
Diplomacy of CZ and NB
Binance was planning in El Salvador for a long time. CZ was meeting with NB (Nayib Bukele); he also opened an El Salvador office and provided jobs. El Salvador is tax-free for technology such as the crypto market, and Binance is able to provide quality and quantity to them. Both have gains.
Germany is Better Choice but El Salvador is Important
In Germany crypto revenue up to €600 is tax-free, and if HODLed for one year, it is all tax-free. Therefore, getting a direct licence could benefit Binance, as a platform for HODLers. Anyway, El Salvador is important for Binance, making it a perfect opportunity to move out of the US and Canada and stay in North America.
