Binance France Replaces Changpeng Zhao with New Shareholders

Binance France has replaced co-founder Changpeng Zhao with two new shareholders to maintain its operational status in France and comply with local regulations in the European Union’s second-largest economy. This unexpected move follows Zhao’s legal issues. It is part of a broader effort to align with European Union standards as new regulatory frameworks. Changpeng Zhao, also known as CZ, previously owned 100% of Binance France. However, following his guilty plea for violating US banking laws last November, Binance needed to restructure its ownership to comply with French regulations and safeguard its operational status in the EU.

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