Regulation
Binance France Restructures Ownership Amid Regulatory Changes
Binance France has undergone a major ownership restructuring to comply with regulatory requirements imposed by the country’s Financial Markets Authority (AMF). The cryptocurrency exchange has 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 nominated Yan and He are equal shareholders, with a 50% stake. Yan, also known as Allan Yan, previously co-founded Bijie Tech e served as Binance’s first product director.
With the upcoming regulation of crypto-asset markets (MiCA) in the EU, Binance France aims to position itself favorably by adhering to regulatory standards, including rigorous anti-money laundering protocols and leadership changes.
Some of the company’s recent activities include the appointment of Richard Teng as CEO and former employee of the Central Bank of Singapore. Binance France also remains active in EU regulatory environments for the company’s compliance adjustments to the changing dynamics of the digital asset fragment.
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