Binance, the world’s largest crypto exchange, has registered three of its firms in Ireland following regulatory measures and pressure from around the globe.
- According to a report by Ireland’s Independent news outlet on Wednesday, Binance (APAC) Holdings, Binance (Services) Holdings, and Binance Technologies were all formally established in the country on Sept. 27.
- The move follows mounting pressure from regulators against the Binance brand including in countries such as Australia, the U.S. and the U.K.
- On Sept. 10 and Sept. 13, Binance’s CEO, Changpeng “CZ” Zhao, signed registration documents for the three firms, according to the report.
- Company documents list the Binance firms’ place of business as an accountancy office above an athletics shop at an ordinary building on Dublin’s southside, per the report.
- The firms were established on Binance’s behalf by Irish law firm Mason Hayes & Curran.
- Last year, Binance (Ireland) Holdings was established under Zhao’s residential address in Malta. Malta’s financial regulator previously said the exchange did not fall under its purview, despite having registered there in 2018.
- On Sept. 24, The People’s Bank of China announced tougher measures on crypto trading, outlawing crypto-related transactions including services provided by off-shore crypto exchanges such as Binance.
- Binance followed up on its intention to get in line with regulators in Singapore when it announced it would severely restrict users’ access to certain services including fiat deposits or spot trading of crypto, on Sept. 27.
- CoinDesk contacted Binance who declined on two occasions to provide comment for this story.