Binance, the world’s largest cryptocurrency exchange, has not yet finalized the location of its global headquarters, according to CEO Richard Teng.
Despite earlier indications that a decision was imminent, Teng acknowledged in an interview the complexities involved in choosing the right location. deal street asia At the Abu Dhabi Finance Week Conference.
The announcement comes in the wake of legal troubles faced by Binance’s former CEO, Zhao Changpeng, who recently served time in prison after pleading guilty to violating U.S. money laundering laws for which he was fined US$4.3 billion. The move comes at a time when efforts are being made to strengthen governance.
Teng emphasized that factors such as tax policy and ability to attract talent are key in determining the location of the company’s headquarters.
He said there are ongoing discussions with multiple jurisdictions, but declined to name specifics.
Binance has secured 20 licenses and registrations around the world, including Abu Dhabi and Dubai.
In a move towards stronger corporate governance, Binance Established a board of directors Earlier this year, it was made up of seven members, including three independent directors.
Teng highlighted the shift from a founder-led structure to a board-led model. He acknowledged that former CEO Zhao retains shareholder rights.
His comments came as Bitcoin reached an all-time high on expectations for more relaxed regulations on cryptocurrencies under the next U.S. administration.
Teng predicts a global trend toward more favorable cryptocurrency regulation, and if the U.S. establishes a strategic Bitcoin reserve, as President-elect Trump has suggested, other countries could follow suit. It suggests that there is a sex.
Featured image credit: Edited from freepic
