The CEO of Binance, Changpeng Zhao, declared in a recent news that the exchange is hoping to make some new amendments to its structure. Some of these amendments will bother on the need to plant new headquarters.
CZ noted that Binance, at the outset, wanted to operate a decentralized structure. However, he remarked that the decentralized structure might need to be changed due to regulatory reasons.
He commented that the exchange wants to align itself by taking up a new structure which is a centralized one. If this is implemented, Binance will have headquarters in strategic countries and locations across the world.
“When we first started we wanted to embrace the decentralised principles, no headquarters, work all around the world, no borders. It’s very clear now that to run a centralised exchange, you need a centralised, legal entity structure behind it,” he said.
He went further to note that the management of Binance “are actually just in the process of establishing a few headquarters in different parts of the world.”
Specifically, he mentioned that Ireland is part of the exchange’s plan. However, he didn’t provide other details with regards to this.
Having said that, Binance has been receiving regulatory backslashes recently which has caused the exchange to restrategize on a lot of things. Coinbench reported in September that Binance has been banned in Singapore.
In addition, the exchange has also appointed new people to head its administrative and legal departments. This has been towards the goal of revamping and realigning its structure.