Binance in Talks With UAE Regulators for Potential HQ

[waybesuricata]

Binance is reportedly in talks with financial regulators in the United Arab Emirates (UAE) about establishing a potential headquarters there.

Binance executives have been holding discussions with officials from special economic zones within the Persian Gulf federation about a prospective move, according to anonymous Bloomberg sources. These authorities include Abu Dhabi Global Market (ADGM), Dubai International Financial Centre, and Dubai Multi Commodities. Binance CEO Changpeng “CZ” Zhao said last month that Binance had chosen a location for its global headquarters but would only announce it after communicating with regulators.

There are other indicators that would underscore the UAE as Binance’s choice. For instance, Binance recently acquired former senior officials from a few of the economic zones. These include hires such as Mark McGinness from Dubai Financial Services Authority, and Matt Gamble from ADGM. Earlier, Zhao had praised the UAE as being “pro-crypto,” along with France and Singapore, and recently bought his first home there as well.

Source and continuation of news:  https://beincrypto.com/binance-in-talks-with-uae-regulators-for-potential-hq/

[TomPluz]

So can we expect that soon Binance will be a Dubai-based cryptocurrency exchange? That can have more chances of happening and Binance can be announcing that in 2022 as its opening salvo for the new year. personally, I am welcoming this news because Binance has to find its eventual home - a location that is good for doing business with and has an environment for innovations and crypto-related technologies. Of course, this can be a good source of tax revenues for UAE and I am sure that there also other countries vying to be chosen by CZ.