Binance.us received a license to work in Puerto Rico – Bits Media

The American division of the cryptocurrency exchange Binance received a license to provide services in the US free economic zone with preferential taxation of cryptocurrencies - Puerto Rico.

This is already the fourth license, received by Binance.US in four months. The exchange reported, that it intends to expand the market for its services throughout the United States and continues to work on obtaining several more licenses, which will allow us to provide services to investors throughout the country.

“We are very pleased to add another license for money transfers, since the Puerto Rico approval is the fourth approval, which we received in four months. We are working on obtaining several more licenses, which will allow us to work in all US states", - says in the statement of the exchange.

Binance.US CEO Brian Schroeder (Brian Shroder) underlined, that the company's goal is to offer fully regulated services in all 50 states and territories of North America.

“Puerto Rico is an important market for the growth of the cryptocurrency industry, and we look forward to continuing to offer its residents a safe, reliable and affordable access to digital assets", – said Schroeder.

He added, that the receipt of a cryptocurrency license from the Puerto Rico Financial Institutions Authority follows a funding round for $200 million, as a result of which the trading platform was valued at $4.5 billion. Binance.US plans to use the capital raised to improve its spot trading platform, development of new products and services, investment in marketing, and creating training materials for clients.

“After successfully closing the round, we are thrilled to be able to build momentum with this license and are grateful for Puerto Rico's trust. Because America is the home of trading and making money from digital assets, our goal is to offer the most compatible and customer-oriented exchange in all 50 states and territories", – Schroeder emphasized.

Note, that against the backdrop of tightening tax policy in the United States, more and more crypto investors are receiving a residence permit in Puerto Rico. This American offshore allows you to avoid paying tax on digital assets.