Binance Chief Executive Officer Changpeng Zhao recently unveiled his plans to become a cryptocurrency service provider in France by next year. Based on conversations with local news, the crypto exchange has a renewed interest in establishing a field of operations in the country.
Although Binance globally accounts for 70% of crypto exchange trading operations, Binance continues to face pressure from supervisors around the world for not having a registered physical officer.
Zhao stated that the exchange had finally succeeded in finding a settlement and that "France will be the initial choice for overseas, maybe even global, women's officials". Although last month, Binance's Chief Executive Officer, Changpeng Zhao, was spotted in Dubai, attending a meeting with the authorities, leading to speculation that Binance would set up an Acting Lady in Dubai.
Binance admits that it has been under pressure from an authority body and has finally decided to fully cooperate by agreeing to be monitored.
Binance's Chief Executive Officer emphasized that the company is investing large sums of money to comply with the updated crypto laws. According to Zhao, more than 15 percent of Binance's employees are dedicated to managing compliance and maintaining relationships with supervisors. In addition, the company has hired another 150 workers this year who are responsible for ensuring the company is compliant with global crypto laws.
