Amid growing scrutiny from financial regulators, major crypto exchange Binance has registered as a corporation in Ireland, Irish news outlet Independent reported on Wednesday.
Binance has proceeded with the registration of three companies in the country, according to reports on the 6th. The three entities, Binance (APAC) Holdings, Binance (Services) Holdings, and Binance Technologies were officially registered on the 27th, and Binance founder and CEO, Changpeng Zhao, will be the director of the three entities.
Having formed several subsidies in many countries, CZ formed an Irish entity last year after registering Binance (Ireland) Holdings.
Binance has received regulatory warnings from regulatory agencies in many countries and has been forced to suspend some services in several European countries, including the United Kingdom, Hong Kong, and Singapore.
Meanwhile, in addition to mandating identity verification procedures for all users, CZ has also stated that he is required to set up a headquarters to operate in compliance with regulations. To appease regulators, the popular exchange also recently hired two former cyber investigators from US Internal Revenue Service (IRS).