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Binance CEO again affirms that the company has no headquarters

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Changpeng “CZ” Zhao, CEO of the giant cryptocurrency exchange Binance, still insists that his company has no headquarters. His explanation came during an interview with Decrypt editor-in-chief Daniel Roberts during this year’s Ethereal Virtual Summit.

“Everyone’s definition of a company’s headquarters is a little different,” said CZ. “When you ask how you define a headquarters – is it an office where people sit? I’ve worked at home for the past three and a half years. Our leadership team is not sitting in an office, we don’t have a clear place to go, by the normal definitions of most people in a headquarters that we can call a headquarters. So when people ask me, I don’t want to give a wrong answer just to satisfy their definition. “

Of course, there is no controversy about the definition of a company’s headquarters. A company’s headquarters are its main commercial offices, usually legally registered as the address from which the company is managed.

CZ added that when people think about their traditional business idea, “they think of a headquarters, an office, a bank account, a record, etc. But today you can probably run organizations with none of these. ”

The market has long been curious as to where Binance’s headquarters are, because that would provide a window into the company’s regulatory status – a subject that, so far, remains unclear.

Binance’s regulatory history

The exchange has had a challenging relationship with regulators in its history. In 2017, Binance left China, opening an office in Japan and Taiwan, before moving to Malta – a jurisdiction well known for its loose regulations.

But last year, Malta clarified that Binance does not have a license to operate in the country. Five months later, the Malaysian Securities Commission claimed that Binance was operating illegally in the country. At the time, Binance’s support team told Decrypt that Binance’s operations were working well in Malaysia.

In 2017, the same year that Binance left China, the company registered Binance Holdings Limited in Georgetown, Cayman Islands. A corporate bond document seen previously by Decrypt shows the Cayman Islands as the headquarters of Binance. In addition, Binance had previously used this address to register various trademarks of the Binance name and logo.

In 2019, Binance also registered the Binance Investments Company in the Seychelles.

Today, Binance US – the binance arm registered in several American states – is in the middle of a confrontation with the US Commodity Trading Futures Commission (CTFC). CTFC launched an investigation into Binance for allegedly allowing American traders to transact in breach of existing regulations in the United States. When Decrypt asked CZ to comment on this investigation last month, it declined.

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