Odaily Planet Daily News Binance spokesperson said that Binance France has replaced co-founder CZ with two new shareholders, a move aimed at ensuring that Binance does not lose the right to operate in the second largest economy in the European Union. Under French regulations, a company's major shareholder cannot be a criminal. The EU's Crypto Asset Market Regulation (MiCA) allows companies to "passport" their licenses from one base country to 27 other countries in the European Union. "The new shareholders of Binance France are all members of Binance's co-founding team," a Binance spokesperson said on Tuesday. The official update of the French Commercial Registry shows that Binance France shares are divided by Yulong Yan and Lihua He, who each hold 50%. Yulong Yan (English name Allan Yan) is identified as a team member in the Binance white paper. He was the co-founder and product director of Bijie Tech, a now-closed Chinese exchange service company. Lihua He's name was not mentioned in the original Binance white paper released in 2017. A Binance spokesperson declined to provide any information about the shareholder and did not immediately respond to a request for comment on whether Zhao Changpeng was compensated for his shares. (DL News)
