Changpeng Zhao named France as the most important country for Binance to operate in Europe

The head of the largest crypto exchange on the planet called France one of the most advanced countries in terms of crypto-currency legislation and the goals that regulators set for themselves.

Binance CEO Changpeng Zhao called France a “strategic hub for the blockchain community” as the country has a large talent pool with strong engineering and mathematics backgrounds. Therefore, the crypto exchange is aimed at long-term cooperation with local authorities.

According to the businessman, Binance now has about 150 employees in Paris, and the company plans to hire several hundred more in the future. The head of the crypto exchange claims that the French government and regulators are clear on how they want to regulate the crypto industry, establish KYC (“Know Your Customer”) rules and fight money laundering.

Now the largest Binance office in Europe is located in France – from there the exchange manages most of the operations in the eurozone. Now the company is promoting an initiative to train 10,000 people from low-income French families:

“The regulators in France are very strict, but fair at the same time. They are much more advanced and have a clear idea of ​​the end result of regulation.”

French Minister for Digital Transition Jean-Noël Barrot said the government will focus on decentralized finance (DeFi), Web3 and other related areas. In May, the French Financial Markets Authority registered Binance as a digital asset service provider.

Source: Bits

You may also like