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Binance’s Plan To Set Up Regional Headquarters And New Tax Filing Tool Reflect Its Regulatory Efforts
Summary: Changpeng Zhao, chief executive of Binance, one of the world's largest exchanges, said on Tuesday that it hopes to set up regional headquarters to simplify the communication process and obtain licenses from local regulators. CZ said: "We want to be licensed everywhere." The new move means Binance will break its early decentralization model and become ...
Changpeng Zhao, chief executive of Binance, one of the world's largest exchanges, said on Tuesday that it hopes to set up regional headquarters to simplify the communication process and obtain licenses from local regulators.
CZ said: "We want to be licensed everywhere."
The new move means Binance will break its early decentralization model and become a financial institution.
CZ also announced the launch of a new tax reporting API tool, allowing Binance users to easily track crypto activities to ensure compliance with regulatory reporting requirements.
The new tool will dynamically extract the transaction history and records of more than one fiscal year to file tax returns. Changpeng Zhao also stated that Binance is actively recruiting leaders with regulatory and compliance experience.
By Mary Liu
Tags: Binance,Changpeng Zhao,Regulation
Link: Binance’s Plan To Set Up Regional Headquarters And New Tax Filing Tool Reflect Its Regulatory Efforts [Copy]
