Binance Registers 3 More Firms in Ireland as Crypto Regulation Heats Up

The move follows mounting pressure on the exchange from regulators around the world.

By Sebastian Sinclair

Oct 6, 2021 at 4:15 a.m. UTC

Updated Oct 6, 2021 at 2:18 p.m. UTC

Binance CEO Changpeng Zhao. (Akio Kon/Bloomberg via Getty Images)

Sebastian Sinclair

Sebastian Sinclair is a CoinDesk news reporter based in Australia.

Follow @Sebsinclair1989 on Twitter

Binance, the world’s largest crypto exchange, has registered three of its firms in Ireland following regulatory measures and pressure from around the globe.

Binance (APAC) Holdings, Binance (Services) Holdings and Binance Technologies were all formally established in the country on Sept. 27, according to a report by Ireland’s Independent news outlet on Wednesday,
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 accounting firm’s office above a sports shop in a building in Dublin, according to 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 didn’t fall under its purview, even though the company registered there in 2018.
On Sept. 24, the People’s Bank of China announced tougher measures on crypto trading, outlawing crypto-related transactions and 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 last week that it would restrict users’ access to certain services, including fiat deposits and spot trading of crypto.
Binance declined to comment for this article.

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