The End of the Wandering Journey of Binance Headquarters This morning, it was officially announced that Binance has received full authorization from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Markets (ADGM), becoming the first cryptocurrency exchange to obtain a global license under this framework. Binance finally has a solid rear base - UAE, with the full support of a legally sovereign country, which is of great significance. It can finally be built without any worries. Old fans all know that Binance has gone through a famous "wandering" history since its establishment. In its early stages of development, Binance attempted multiple times to establish its headquarters in different countries, but was often forced to relocate or expelled due to tightened regulations or inability to obtain licenses. At that time, the US stock market had been trying to catch the braid of Binance, and governments around the world were also skeptical of encryption, which led @ cz-binance to once state that "Binance has no headquarters" and "is completely decentralized". At that time, it was quite uncomfortable to listen to, but I can understand that it was also to avoid regulatory crackdown. Who would be willing to migrate around if it could be stable? So I say that the complete compliance of UAE this time is of great significance - the wandering journey is over. ~~~~~~~~~~~~~ I traced the timeline of Binance's previous wanderings China (2017) - Birthplace and First Departure • Attempt situation: Binance was established in Shanghai in July 2017. Reason for expulsion: Regulatory ban. In September 2017, the Chinese government issued a strict "1994 ban" (prohibiting ICO and cryptocurrency exchange operations). Result: Prior to the ban taking effect, Binance urgently withdrew its servers and core team from China, initiating a global roaming mode. Japan (2017-2018) - A brief safe haven After leaving China, Binance transferred most of its core personnel and operations center to Tokyo, Japan, in an attempt to establish itself there. Reason for expulsion: Warning for operating without a license. The Financial Services Agency (FSA) of Japan is very strict. In March 2018, the FSA issued a formal warning to Binance, stating that it was providing services to Japanese residents without registration. If continuing to operate without a license, one will face criminal charges. Result: In order to avoid legal risks, Binance was forced to announce the relocation of its headquarters from Japan. (PS: Binance later re entered the Japanese market in 2022 through the acquisition of licensed exchanges, but this is a later story and the headquarters cannot go back) Malta (2018-2019) - The shattered dream of a 'blockchain island' After leaving Japan, Binance announced in a high-profile manner that it would relocate its headquarters to Malta. At that time, the Prime Minister of Malta was enthusiastic about building it into a "blockchain island" and welcomed cryptocurrency companies. This was once regarded by the outside world as Binance's official global headquarters, and the photo of CZ wearing shorts and taking a photo with the Prime Minister is still fresh in memory. Reason for expulsion: Regulatory clarification and distancing. Although Binance claims to call it its home, in February 2020, the Malta Financial Services Authority (MFSA) suddenly issued a public statement clarifying that "Binance is not authorized to conduct business in Malta" and that the agency does not regulate Binance. Result: This is actually a regulatory "eviction order", and I still don't know where Malta is under pressure and has lost the best opportunity for a small country to overtake on the bend. Binance subsequently stopped mentioning Malta as its headquarters and began declaring "decentralized office, no headquarters". Singapore (2019-2021) - Once the Most Promising Destination CZ has lived in Singapore for a long time, and Binance has invested a lot of resources there, not only having a large office, but also actively applying for a license from the Monetary Authority of Singapore (MAS), attempting to make it a de facto global center. Reason for expulsion: Failure to meet compliance standards. In 2021, as global regulation tightened, the Monetary Authority of Singapore included Binance on its "Investors Must Be Vigilant List" and imposed strict requirements on its compliance (anti money laundering, KYC, etc.). In December 2021, after realizing that it could not meet regulatory requirements, Binance withdrew its license application and announced the closure of its trading platform in Singapore http://Binance.sg . Binance once again lost the opportunity to establish a regulated headquarters, and CZ subsequently left Singapore and turned to the Middle East and Europe. ~~~~~~~~~~~~~~ This is both an opportunity for the UAE and Binance, and ultimately it will benefit BNB, Cheers～