According to Binance CEO Changpeng Zhao, the company is looking for a location to officially open shop in the wake of global regulatory backlash.

In order to meet worldwide regulatory concerns, Binance is apparently seeking for a site to establish an official headquarters. The prominent bitcoin trading website is being investigated for possibly operating without a license and engaging in regulated operations without legal clearance.

Binance CEO Changpeng Zhao claims the company is moving away from its decentralized structure, which has a physical headquarters, in order to gain licensing permissions in the face of regulatory crackdowns in the United States, Hong Kong, Japan, and Singapore.


Zhao remarks in an interview with the South China Morning Post,

“As we run a centralized exchange, we've realized that in order to work well with regulators, we need a single body.

Clear records of stakeholder ownership, transparency, and risk controls are required. We must prepare ourselves for the shift as the industry's largest player. We're implementing adjustments to make working with regulators easier.”

Binance's US arm, according to the tech news website The Information, is contemplating an initial public offering (IPO) within the next three years.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

CEO of Messari: "Bear Markets Are Good for Cleaning House."

 Although most of the crypto industry has had a difficult winter, Messari CEO Ryan Selkis believes that a little austerity will be good for ...

counter, at the bottom of the page, in a table, div or under a menu.