Binance Secures New Zealand Registration, Opens Local Office
Table of contents
"We see New Zealand as a bit of a pioneer, so from that perspective, I think there's a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web," Binance's CEO Changpeng Zhao (CZ) said.
Central Bank of New Zealand
The central bank of New Zealand announced last year that it would have public discussions about digital assets, including Bitcoin, stablecoins, and central bank digital currencies.
Recently, the Netherlands' central bank penalized a company €3.3 million (about $3.2 million) for offering unregistered crypto services there. Binance announced last year that it intended to submit an application for registration in the European zone, and it acknowledged that it had done so after receiving a fine. Binance is taking steps to register locally with financial regulators outside New Zealand. Spain, France, Italy, and other nations have already registered Binance.
Japan Binance's Latest Asian Target
After being denied access to the island nation four years ago due to strict regulations, Japan's relaxing of its cryptocurrency regulations has drawn Binance to request re-entry.
Fumio Kishida, the prime minister of Japan, has made revitalizing the economy one of his top priorities since taking office, and this has helped Web3 companies expand. Binance has been applying for an operating license in the country to increase the growth and adoption of cryptocurrencies.