CZ Eyeing Monaco for Expanding Binance after Meeting with Official - Blockchain.News

CZ Eyeing Monaco for Expanding Binance after Meeting with Official

Godfrey Benjamin Aug 08, 2022 02:20

Binance’s co-founder and Chief Executive Offer, Changpeng Zhao, had a meeting with a senior government official in Monaco where the crypto exchange plans to expand business in this country.

CZ Eyeing Monaco for Expanding Binance after Meeting with Official

Binance's co-founder and Chief Executive Offer, Changpemet been meeting with several government officials over the past few months. The meetings have moved to Monaco, where he met with a key government official, Frédéric Genta.


From his antecedents, a visit or collaboration with a major government, government representative, or official is always followed by Binance's planning of a move into that region. Should the trading platform already have a foothold in the country, then collaborations with men in policy will herald Binance's attempt to solidify its role in helping to cement the digital transformation of that outfit.

Monaco is a naturally fitting region for the digital currency ecosystem as the government is considered one of the crypto ecosystem's most proactive tax haven regions. With Portugal currently veering away from the path of zero tax for crypto startups and stakeholders, Monaco, amongst other related outfits, is fast becoming an alternative for companies of interest.

As known as CZ, Zhao did not reveal the details of the meeting with Frédéric Genta, but considering Genta has a profound influence on the government as it concerns the region's digital transformation, the discussion might have centred on highlighting the role of blockchain and crypto startups in achieving the collective goal.

Zhao once had a related meeting with the President of Kazakhstan, Kassym-Jomart Tokayev, and other key personalities in the government as it signed a Memorandum of Understanding to help advise the government of Kazakhstan about policy and regulatory frameworks. Additionally, the exchange will commit funds and resources to help power the growth of the local community, with digital education among its prominent focuses.

Binance has gained quite a handful of operating licenses over the past year. One of its core social responsibilities is to commit to helping the region it operates by developing on all fronts including digital transformation, policies, and regulations, amongst others.

Image source: Changpeng Zhao Twitter