Tag: Binance France

According to a report of DLNews, Binance France has replaced co-founder and former Binance Group CEO Changpeng Zhao (CZ) with two new shareholders, a strategic move aimed at preserving its operational status in the EU's second-largest economy. This decision follows CZ's guilty plea to violating US banking laws last November. He was sentenced to 4 months in prison for his violations and had to pay around $150 million to U.S. authorities, including regulator CFTC.

Binance UK CEO Jonathan Farnell has stepped down amidst increasing scrutiny from the UK's Financial Conduct Authority (FCA). Hired in 2021 for a compliance-centric role and later elevated to oversee Binance's UK operations, Farnell's exit leaves Ilir Ergis Laro as the sole representative of Binance in the UK. Before the FCA's recent regulatory changes, Farnell was instrumental in aligning Binance with the UK's regulatory framework.