(The Telegraph) Binance CEO Changpeng Zhao says the crypto firm has hired several ex-regulatory staff in the UK and compliance people as it prepares to bid for approval for operation in the country.
Zhao is optimistic of approval for UK operation, months after the Financial Conduct Authority banned it from the country. He says the relationship with the regulator has improved.
The Binance CEO says the exchange is making changes in its product offerings, organizational structures, and internal processes in readiness for establishing its presence in the UK.
Zhao says he considers setting the UK entity similar to Binance.US. to address the concerns by FCA on the exchange’s opaque structure.
Binance was banned from the UK operation in June and faced a range of regulatory crackdowns around the world.
BNBUSD is down -0.30%.
