Crypto exchange Binance has registered three divisions in Ireland amid ongoing pressure on the platform from global regulators, the Independent has reported.
Binance (Services) Holdings and Binance Technologies officially registered their presence in Ireland on September 27. The registration documents were signed by the exchange's founder and CEO Changpeng Zhao on September 10 and 13.
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The exchange's first legal entity in Ireland, Binance (Ireland) Holdings, was registered last year. The documents indicate Zhao lives in Malta and is a citizen of Canada.
Until recently, Binance had adopted a decentralized organizational approach that assumes no specific offices or headquarters. Subsequently, the company acknowledged this approach was inconsistent with regulators' perceptions of acceptable business practices. Zhao said:
"We firmly believe that we can help the next billion users join the cryptocurrency world if we work with regulators and legislators to develop clear regulatory and legal frameworks."