Binance, the world’s largest crypto exchange, has registered three of its firms in Ireland following regulatory measures and pressure from around the globe.
- Binance (APAC) Holdings, Binance (Services) Holdings and Binance Technologies were all formally established in the country on Sept. 27, according to a report by Ireland’s Independent news outlet on Wednesday,
- On Sept. 10 and Sept. 13, Binance’s CEO, Changpeng “CZ” Zhao, signed registration documents for the three firms, according to the report.
- Company documents list the Binance firms’ place of business as an accounting firm’s office above a sports shop in a building in Dublin, according to the report.
- The firms were established on Binance’s behalf by Irish law firm Mason Hayes & Curran.
- Last year, Binance (Ireland) Holdings was established under Zhao’s residential address in Malta. Malta’s financial regulator previously said the exchange didn’t fall under its purview, even though the company registered there in 2018.
- On Sept. 24, the People’s Bank of China announced tougher measures on crypto trading, outlawing crypto-related transactions and services provided by off-shore crypto exchanges such as Binance.
- Binance followed up on its intention to get in line with regulators in Singapore when it announced last week that it would restrict users’ access to certain services, including fiat deposits and spot trading of crypto.
- Binance declined to comment for this article.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.