Binance Considers France as Global HQ, Says CZ
Main page Opinion, business, Crypto Market, France, Binance, Regulations

Cryptocurrency exchange Binance considers France as a "natural choice" for its global headquarter, the exchange's head, Changpeng Zhao, said in an interview with Les Echos. Zhao says Binance's current priority is to obtain local permissions to offer services as a cryptocurrency business.

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"In the near future, France will be a natural choice for a regional, and even perhaps global, head office," Zhao said, adding that Binance plans to get PSAN (Digital Asset Service Providers) approval from Autorité des marchés financiers within 6-12 months.

Binance to Change Business Structure as Regulatory Pressure Tightens

Zhao also complained about UK's aggressive approach towards the exchange. He says the FCA's warning has been "very damaging" to the exchange. Earlier this year, Binance drew scrutiny from regulators around the world after the UK's Financial Conduct Authority said the exchange offers its services without a license. Other watchdogs of Hong Kong, Poland, Malta, Italy, Cayman Islands, and Singapore also issued warnings against the exchange and affiliated companies over its business.

In August this year, the FCA noted that Binance complied with all aspects of the requirements imposed on it. However, the exchange is still not permitted to undertake any regulated activity in the UK.

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