Binance South Korea is a possibility: CEO Changpeng Zhao confirms

Malta-based Binance cryptocurrency exchange is likely to open a cryptocurrency exchange in South Korea. According to CoinDesk which cited a local news outlet Block In Press, the CEO of Binance Changpeng Zhao (CZ) confirmed the claims saying (via translation) that the company is “working with local partners, but we do not know the details.”

Another report by CoinDesk Korea says that a company with the name Binance LLC has already been registered in South Korea. The director of the company is Jiho Kang of BXB Inc., a company that issues a Korean won-backed stablecoin.

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Moreover, a representative of Binance told Block In Press that “We have been in discussions with BXB, but there is no specific decision.” Further confirming that Binance South Korea could be in the offing is that Binance has advertised for a compliance officer for South Korea. The advertisement states:

“We are seeking a Compliance Officer to support our expansion into all global frontiers, including KYC, Client Onboarding and AML/CFT. The role is based in Seoul, South Korea.”

The candidate being sort for should have among other qualities:

“Good knowledge on provisions of local laws, directives, regulations and otherwise standards applicable to subject persons and knowledge of upcoming regulation of virtual currency policies is a strong plus.”