Binance expands presence in Ireland amid questions about corporate headquarters
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Answer Binance expands presence in Ireland amid questions about corporate headquarters
Cryptocurrency exchange Binance is increasing its presence in Ireland amid lingering questions about the whereabouts of its headquarters.
Last month, the Irish Independent reported that the trading platform had registered three subsidiaries in Ireland.
These companies are “Binance (APAC) Holdings”, “Binance (Services) Holdings” and “Binance Technologies” and all were officially incorporated on September 27, 2021.
The Irish Independent also reported today that Binance has registered another Irish entity, called Binance Exchange (Ie).
CZ, the chief executive of Binance, also said last month that Ireland was featured in the company’s plans as an option to set up headquarters there.
(CZ) added by saying:
When we first started we wanted to embrace the principles of decentralization, no headquarters, worldwide work, and no borders.Read:China’s central bank governor: Digital yuan will prioritize privacy protection
But it is now very clear that the management of the company is centralized, so you need a structure and a central legal entity behind it.
This central legal entity structure may eventually reach Ireland, but according to a Binance spokesperson, the company is also looking elsewhere.
A Binance spokesperson said today:
We keep all our options open and are currently considering multiple venues in order to meet user needs and regulatory requirements, and of course a location that fits our needs as a company.
If any of these options take hold, we will provide updates as appropriate.
According to the Irish Independent and Reuters, Ireland could indeed become that entity, provided, of course, that Irish regulators take a kinder view of the cryptocurrency exchange than that of other regulators around the world.
However, based on what a company spokesperson said today, other options are under consideration.
When asked about other countries being considered, Binance speakers declined to provide more information.Read:Iran Recognizes Crypto, Bitcoin and Cryptocurrency Mining Industry
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