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Seeking Alpha 2021-12-06 17:27:14

Binance hires staff in U.K., plans to file for regulatory approval: The Telegraph



Despite U.K financial regulators in June banning Binance Markets Limited from operating in the country, Binance now says it's establishing a presence in the U.K., with plans to file for regulatory approval, Binance CEO Changpeng Zhao told the Sunday Telegraph. Binance sets up an office in Britain, facilitated by a "number of ex-regulatory staff from the U.K. and a couple hundred compliance people," he told the Sunday Telegraph. The move comes at a time when regulators seek more information on how the largest crypto exchange operates in the U.S., where it has many state licenses. "We're making a number of very substantial changes in organizational structures, product offerings, our internal processes and the way we work with regulators," Changpang said. "We want to continue to establish a presence in the U.K. and serve U.K. users in a fully licensed and fully compliant manner." The company could set up a U.K. entity

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