

Binance CEO Calls Paris The Financial Hub for Crypto in Europe



Binance’s CZ Calls Paris to be The Crypto Financial Hub in Europe
At Binance Blockchain Week in Paris, regulation was a hot topic, especially the proposed MiCA framework.
Binance CEO Changpeng Zhao, popularly known as “CZ”, stated his view that Europe's Markets in Crypto Assets (MiCA) regulatory framework has the capacity to become the global standard, even though it compliance appears to be demanding.
During a fireside chat at Binance Blockchain Week, he said that the proposed regulatory guidelines in MiCA were “fantastic”, and that they could become a model for regulators in other jurisdictions. He also expressed his optimism for Paris as a crypto center, calling the city a “financial hub”. To quote him:
“Paris probably already is the financial hub for crypto in Europe and also probably in the larger part of the world. I think the Ministers and regulators here in France have put tremendous inputs and contributions to the MiCA regulations that are coming up.
We are aware of some of those efforts that went on and those were definitely not easy, but that will make the job for the crypto entrepreneurs and crypto businesses much much easier. Instead of applying for 27 licenses, now you just have to apply for one.”
For @cz_binance, Paris may already be the crypto financial hub in Europe.
— Binance (@binance) September 15, 2022
Find out why in this recap of his fireside chat with Jean-Noël Barrot, French Minister for Digital Transition and Telecommunications, at the #BinanceBlockchainWeek pic.twitter.com/Se4XsKXeu8
About Europe’s MiCA rules
The lawmakers at the European Commission (EC) were affirmative about adopting MiCA as a framework when proposed in June of this year. Importantly, the memo proposes regulation of stablecoins and registration requirements for crypto asset service providers.
Stablecoins that are backed by fiat currencies will now be subjected to the regulations of the European Banking Authority (EBA). Crypto asset service providers would need to register with the European Securities and Markets Authority (ESMA) as well as the EBA. As per the revised rules, licensure from the regulators will permit crypto exchanges to operate across the European Union (EU).
A final draft of the memo outlining regulations is expected before the end of September.
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Terraform Labs Founder Do Kwon Appeals Extradition Decision in Montenegro

The appeal will be reviewed by the Montenegro court, and the Montenegrin Ministry of Justice faces challenges in reaching a conclusive decision by the December 15 deadline.
Kwon Do-hyung, the founder of Terraform Labs (TFL), has filed an appeal against the recent extradition ruling made by the High Court of Podgorica in Montenegro, according to a local South Korean media outlet.
The Montenegrin Court of Appeal confirmed on December 6 that Kwon Do-hyung contested the decision, stating, “I do not accept the court’s decision to extradite me, so I do not submit to the court’s decision.”
This appeal prompts the Montenegrin Court of Appeals to reassess the extradition decision, introducing uncertainty into the resolution timeline.
Extradition Request and Timeline
The court initially approved Kwon’s extradition request on November 24, stipulating his transfer to either the United States or his home country, South Korea.
The current appeal has altered the decision-making timeline, making it challenging for the Montenegrin Ministry of Justice to finalize the extradition destination before the December 15 deadline.
During the extradition trial, Kwon expressed a preference for being extradited to South Korea, a request that was granted by the court. However, the appeal has extended the timeline, potentially rescheduling the extradition proceedings to January, according to Crypto Times.
Despite Kwon Do-hyung’s appeal, local observers in Montenegro suggest slim chances of overturning the extradition decision. A prevailing belief among Montenegrin government officials and judiciary figures is that Kwon’s continued detention attracts undue attention.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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