Binance France has undergone a major ownership restructuring to comply with regulatory requirements imposed by the country’s Financial Markets Authority (AMF). The crypto exchange transferred 100% ownership to Yulong Yan and Lihua He, both founding members of Binance, following an AMF warning regarding former CEO Changpeng Zhao’s legal troubles in the United States.
Binance France appointed Yan and He as equal shareholders, holding a 50% stake. Yan, also known as Allan Yan, previously co-founded Bijie Tech and served as Binance’s first product director.
With the impending Markets in Crypto-Assets (MiCA) regulation in the EU, Binance France aims to position itself favorably by adhering to regulatory standards, including stringent anti-money laundering protocols and leadership changes.
Some of the recent activities by the company include the appointment of Richard Teng as the CEO and a former employee of the Singapore Central Bank. Binance France also remains active within regulatory contexts of the EU for the company’s compliance adjustments to changing dynamics of the digital asset fragment.
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