Binance in Talks With Dubai, Abu Dhabi on Headquarters Plan - Bloomberg
Binance Holdings Ltd., which has claimed to be a virtual company, has held discussions with regulators in the United Arab Emirates about a potential headquarters in the Gulf Arab nation, according to people with direct knowledge of the matter.
Executives at the world’s largest cryptocurrency exchange by trading volume have been in talks with officials from special economic zones Abu Dhabi Global Market, Dubai International Financial Centre, and Dubai Multi Commodities Centre about a potential move, said the people, who requested anonymity as the talks are private.
Binance has also tapped former senior officials at the economic zones -- Mark McGinness from Dubai Financial Services Authority, which regulates DIFC, and Matt Gamble from ADGM -- in recent months, according to company announcements and LinkedIn profiles.
Setting up global headquarters is a major step for Binance as it seeks to establish itself as a mature, regulated financial institution. Founded in China in 2017, Binance quickly grew into a global crypto powerhouse, yet shunned picking a head office and instead incorporated firms in locations worldwide, making it difficult for regulators to establish jurisdictions over the company.
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