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Crypto exchange Binance bows to pressure for physical headquarters

CEO Zhao vows to run 'most heavily regulated' cryptocurrency company in world

Cayman Islands-domiciled Binance is trying to beef up compliance as oversight of the cryptocurrency sector increases.   © Reuters

TOKYO/HONG KONG -- Binance, the world's largest cryptocurrency exchange by trading volume, is looking to set up physical headquarters in multiple jurisdictions in a major concession to regulators.

Despite operating out of dozens of countries, the Cayman Islands-domiciled company does not have any head offices registered in any country, creating a decentralized structure that CEO Changpeng Zhao says baffles regulators.

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