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Binance will not create a headquarters in France until it improves its anti-money laundering compliance. The local financial authority, AMF, announced this.

The bitcoin exchange has just announced that it will modify its business model. Its CEO stated that France could be a viable choice for establishing a headquarters because the exchange has no regulatory issues in the country.

Zhao Zhangpeng, on the other hand, was incorrect. Financial officials in France have stated that they will not welcome the exchange on French soil unless it cleans up its act. The governor of the French central bank announced this.

Binance will have to rethink its business operations and comply with anti-money laundering regulations in order to establish a regional hub for its exchange in Paris.

Remember that the CEO of the cryptocurrency exchange Binance indicated earlier this month that the French capital could be the site of the business’s future headquarters. This can take anything from 6 to 12 months.

Binance and the French organization France FinTech collaborated on this project, which resulted in this conclusion. With a budget of $ 116 million, the corporations have established a one-of-a-kind blockchain initiative called Objective Moon. Its goal is to grow Europe’s digital asset industry.

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