Binance is planning to make Paris their European base and CEO Changpeng Zhao praised France’s pro-crypto regulations and the government’s attitude towards the industry.
Zhao, better known by his nickname CZ, explained why he chose France to be the European base, “France has some very pro-business, pro-crypto regulations and also just (the) government’s attitude towards this industry … has been phenomenal.”
“I think France has one of the most progressive and open-minded governments in the world.” Zhao is attempting to register Binance with AMF the French markets regulator.
Throughout Europe, including the UK, Italy, and Germany, over a dozen national regulators issued warnings to the general public about Binance. Some cautioned using Binance and others suggested that Binance was operating without a license.
The more open-minded stance held by France has led to Binance announcing it will develop blockchain and Web3 projects in Paris. This comes as part of a €100 million investment into France, known as Objective Moon.
Binance plans to open new offices in Paris, which will support start-ups in blockchain, web-3 and the metaverse. Selected start-ups will be hosted rent-free at the incubation center Station F.
Binance is seeking to create more than 100 jobs by end of the year at its new Paris headquarters.
