In an interview in November with French business daily Les Echos, Zhao said that in 2022, Binance hopes to secure the position of a digital asset service provider in France. He also confirmed that his company is focused on strengthening its compliance-oriented capabilities.
French monetary sector regulator Autorit des Marchs Financiers (AMF) has reported that crypto trade Binance needs to heighten its endeavors to guarantee anti-money laundering compliance it needs the agencys backing for its arrangements to launch a regional enrolled office in the country’s capital. Binance desires to acquire regulatory endorsement for the Arab Monetary Fund inside six to a year, as indicated by the CEO. The most recent advancement comes soon after Changpeng Zhao, CEO of Binance, declared that Paris would be a “natural choice” for the trade’s provincial, and possibly global, headquarters, Reuters reports.
“Of the more than 3,500 employees of Binance, 600 (over 15%) are responsible for compliance and relationships with various regulators, we have appointed 150 [such employees] In 2021, the CEO said.
Asked about the company’s plans for a presence in Europe, Zhao said his work is in the process of “establishing registered offices on several levels: local, regional and global.”
According to the executive, “our priority is to obtain local licenses to set up cryptocurrency exchanges.” “Once this is possible, France will be a natural choice for a registered regional office, and possibly a global one.”
Regarding the company’s relations with the French regulator, Zhao said the AMF has proven “very pro-business, but at the same time very demanding.”
Meanwhile, the Spanish regulator National Securities Market Authority (CNMV) scolded the current Spanish football player Vissel Kobe Midfielder Andres Iniesta after the athlete promoted Binance services on his Twitter and Instagram accounts, Reuters reports. Iniesta’s Instagram post, where the former FC Barcelona footballer has over 38 million followers, shows him using the Binance website and mobile app.
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