Binance France restructures ownership amid regulatory changes

Binance France has undergone a major ownership restructuring to meet regulatory requirements imposed by the country’s Financial Markets Authority (AMF). The cryptocurrency exchange has transferred 100% ownership to Yulong Yan and Lihua He, founding members of Binance, following an AMF warning regarding former CEO Changpeng Zhao’s legal troubles in the United States.

Binance France has appointed Yan and He as equal shareholders, owning 50% of the shares. Yan, also known as Allan Yan, previously co-founded Bijie Tech and was Binance’s first product director.

With the upcoming 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.

The company’s recent moves include the appointment of Richard Teng as CEO and former Singapore Central Bank employee. Binance France also remains active in the EU regulatory context in adapting the company’s compliance to the changing dynamics of the digital asset fragment.

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