📰 Table Of Contents
Binance France Ownership Restructuring
Binance France has made significant changes in its ownership structure to comply with local regulations and ensure operational continuity within the European Union.
Reasons for Ownership Change
The decision to replace co-founder Changpeng Zhao with two new shareholders was driven by the need to align with European Union standards and adhere to regulatory frameworks like the Markets in Crypto-Assets (MiCA) regulation.
New Shareholders
Yulong Yan and Lihua He have been introduced as the new majority shareholders of Binance France, each holding 50% of the shares. Both individuals are co-founding team members of Binance.
Yulong Yan
Yulong Yan, also known as Allan Yan, played a significant role in the original Binance whitepaper and was previously a co-founder and product director of Bijie Tech.
Lihua He
Lihua He, although not mentioned in the 2017 Binance whitepaper, is a key figure in the company with limited publicly available information.
Global Restructuring Project
This ownership transition is part of Binance’s broader global restructuring project aimed at complying with regulatory standards across various jurisdictions.
Regulatory Challenges and Strategic Decisions
Despite regulatory scrutiny and challenges, Binance remains committed to its strategic operations in France and the European Union. The company’s recent collaboration with Cristiano Ronaldo for an NFT collection demonstrates its ongoing efforts to innovate and expand its offerings.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
