Cryptocurrency exchange Binance has chosen to locate its European headquarters in Paris.
In Brief:
The company has not yet had a headquarters, which according to CityAM has caused a “sticking point” with regulators.
It says it won’t have a global HQ and instead will have multiple locations including Paris and Dubai.
Binance has registered an entity with the French market authority, which is its first approval from an EU regulator.
What does this mean?
The media is commenting that the UK has “missed out” on hosting the HQ for the largest cryptocurrency exchange in the world, with politicians commenting that the UK’s regulatory environment needs to be more “friendly” towards cryptocurrency – however, the FCA has issued firm warnings to Binance in recent months.
