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Samreen Ahmad · · 1 min readBinance registers 3 firms in Ireland as part of its headquarters plan
“Major cryptocurrency exchange Binance sees Ireland as part of its plans to establish a number of headquarters across the world,” according to a Reuters report.
Details:
- Binance, one of the world’s most widely used crypto exchanges, has drawn scrutiny from regulators in the US, Singapore, Japan, and the UK, among others. (Read: Why angry investors are trying to sue Binance)
- In July, CEO Changpeng Zhao said that the company was looking to set up physical headquarters in multiple locations in a major concession to regulators. It registered three firms in Ireland last month.
Dive deeper:
- The crypto exchange recently appointed former Facebook executive Gwendolyn Regina to lead the investments of its US$100 million Binance Smart Chain fund.
- After a warning by the Monetary Authority of Singapore last month, Binance said that its users from the country will not be able to access certain functions on its platform, including fiat deposits, spot trading, liquid swap, and cryptocurrency purchases through fiat channels. (Read: Binance loophole may allow users to skirt Singapore ban)
Editing by Collin Furtado and Lorenzo Kyle Subido
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