Binance CEO Changpeng Zhao (CZ) announced that Binance Academy would officially establish an office in Shanghai. This is information shared by CZ on Twitter. The Binance Academy team was able to reach a “milestone agreement” with the local government and open a legal physical presence in China.
In other news, @BinanceAcademy reached a milestone agreement with the local government and will setup an office in Shanghai. The official signing ceremony just happened today. ???https://t.co/bgulAFnaA5 pic.twitter.com/Kjctjfu20Z
— CZ Binance ??? (@cz_binance) March 27, 2020
Binance reaches milestone with an office in Shanghai
According to Blockbeats, the core group of Binance China will partner with members of Lingang Xinyefang and Lingang Innovation Management University to set up a Cameron Research Institute in Shanghai.
All participating players will take advantage of their respective industry and technology advantages to promote research into China’s core Blockchain strategy. This includes industrial application development, talent training, and education.
The official signing ceremony for the office of local government seals took place today. And CZ congratulated them on their great feat.
CEO at Block Journal commented:
“Congratulations. Bigger step than people realize.”
And at this time, CZ answered:
“Yeah, most people may not understand the underlying shift that just happened. But that’s fine.”
Will China ever hold a lousy view of cryptocurrency?
While CZ pointed out the importance of achievement, he also said that these are still small steps. However, small steps will become in the right direction and better than giant strides in the wrong direction.
However, the fact that Binance has an official office in Shanghai does not mean the government has softened its interest in Bitcoin. You will notice that the office has been approved to research Blockchain technology. Therefore, it can be seen that cryptocurrency is still not suitable for China and certainly does not have a green light for the Binance headquarters.
Just a few months ago to November 2019, the Chinese government appeared to go on a cryptocurrency company purging spree, shutting down offices and reportedly raiding buildings, including… Binance’s office in Shanghai.
After an article appeared about the Binance office raid, CZ vehemently stated:
“No police, no raid, no office. Hope you didn’t pay to read that FUD block.”
That Binance had an office in Shanghai was repeatedly refuted. CZ later stated that he would sue The Block for false reporting and damaging the Binance name.
He said that Binance does not have an office in Shanghai and reported inaccuracies:
“There are plenty of empty offices in Shanghai, and I am sure you will get a photo. There is already a photo (of a hallway) circulating online in China.”
He then went on to argue that offices are nonetheless obsolete concepts and that time continues:
Office and HQ are old concepts like SMS and MMS. Time is moving on…
— CZ Binance ??? (@cz_binance) November 20, 2019
Four months later and the office seems to be back in fashion. As long as local Chinese authorities officially approve them.
Read more:
- Binance Futures Is Breaking Into The Big Three Of Crypto Futures Trading
- Binance Charity Is Looking To Raise $5 Million In Cryptocurrencies To Donate For CryptoAgainstCOVID Campaign