Lawyer: Zhao Changpeng owns 100% of Binance France, which may prevent him from entering the EU market

ChainCatcher news, according to Dlnews, Zhao Changpeng owns 100% of Binance France, and the legal issues he faces may hinder Binance's entry into the EU. If French regulators reject Binance, other EU countries may do the same. William O'Rorke, a lawyer and partner at the cryptocurrency law firm ORWL, stated that if Binance is to survive as a regulated entity in France, Zhao Changpeng may not be able to continue as a significant shareholder.

Since 2022, Binance has been registered as a digital asset service provider with the French Financial Markets Authority (AMF). This registration, based on compliance with anti-money laundering rules, will allow Binance to provide services to French users until the end of the transition period, which has been extended by the French regulator until December 2025. After the transition period ends, Binance will need to obtain MiCA licensing in EU member states before entering all 27 countries.