Binance’s Chief executive Officer Changpeng Zhao, popularly known as CZ, has commended France for its “pro-crypto” regulation. This is coming as the crypto exchange is planning to make Paris its European headquarters. Back in November, the world’s largest cryptocurrency exchange by market cap invested €100 million in France as part of its move to establish in the country.
The company has also invested in Paris-based startup incubator Station F. Binance is also looking to register with French markets regulator AMF as a “digital asset service provider.
CZ said France’s Approach Toward Crypto Had Been Great
Binance has not had it easy with regulators around the globe lately. Last year, the crypto exchange was in the wrong books of several national regulators, including those in Britain, Germany, and Italy.
The regulators issued warnings about Binance, with some of them accusing the crypto exchange of operating in the country without authorization. Some of the regulators warned investors from using its services while others even issued asked Binance to leave the jurisdiction.
Binance reiterates that it works with regulated authorities across several jurisdictions and will always welcome regulation.
But on Wednesday Zhao was particularly impressed by the French government, saying French President Emmanuel Macron has a friendly attitude toward the unregulated crypto sector.
“France has some very pro-business, pro-crypto regulations,” he stated, adding that the government’s attitude towards the industry had been great.
Binance Continues To Expand Despite Regulatory Battles
Despite the regulatory issues Binance is encountering, the exchange is still pushing ahead with its global expansion and mission for broader crypto adoption. Last month, the exchange stated that it has received a license to carry out some operations in Dubai, UAE. In addition, it has also received authorization from Bahrain’s central bank to operate a crypto business in the country.
Apart from its pledge to invest €100m million in France, CZ has also announced a deal to grant €2 million for the restoration of a room at the Chateau de Versailles.
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