Binance CEO Richard Teng revealed that the exchange is in discussions with various jurisdictions to select a headquarters but has yet to finalize a decision. Speaking at Paris Blockchain Week, Teng emphasized the complexity of corporate governance considerations and the multitude of factors involved in choosing a location.
Teng highlighted the importance of factors such as regulatory environment, taxation agreements, and the suitability of jurisdictions for Binance’s suite of products and services. This ongoing saga addresses the need for a headquarters for the world’s largest crypto exchange, a topic that former CEO Changpeng Zhao had previously avoided or downplayed.
While Teng initially declined to disclose information publicly, his recent statements suggest that Binance is nearing a decision on its headquarters location. He emphasized that the announcement will be made when the exchange is ready.
During the discussion, Teng underscored Binance’s efforts to collaborate with regulators and navigate the challenges posed by varying regulatory approaches globally. He acknowledged the need for standardization but noted that achieving global harmonization would be a prolonged process.
Additionally, Teng briefly addressed the situation involving Binance executive Tigran Gambaryan, who has been detained in Nigeria. He stated that Binance is actively cooperating with the Nigerian government and working to secure Gambaryan’s return, although he did not provide specific details.
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