Binance Blockchain Week, Paris - Day 1

The first day of the Binance Blockchain Week Paris kickstarted with CZ, the founder and CEO of Binance sharing his views about Binance performing in France.

Moderator Kayla Roark asked CZ about his thoughts on doing business in France. Asked about the problems that he and his team encountered in France, CZ remarked:

“I think France is very important and very strategic and there is a huge talent pool in France, and France has been historically firm in Mathematics so with that culture we have established a large team here already. “

Speaking of challenges faced while operating in France, CZ replied that the challenges were mostly regulatory in nature. However he mentioned that the regulators in France are very clear and upfront about regulations.

CZ believes French regulators are strict and demanding, but also responsive and quick at the same time. They are fairly tough on KYC and other processes that Binance had to implement.

He noted that there is strong alignment with regard to the French regulatory organizations. In other countries different stakeholders would want different things - whereas everything is pretty much in alignment as far as the French regulatory system is concerned.

Having said that, CZ also revealed that educating people about crypto remains a challenge. French government and other organizations are collaborating with Binance on education initiatives, and overall it is a very welcoming place for crypto, said CZ. Jean-Noël Barrot - Ministry for Digital Transition and Telecommunications agreed that France has become the main hub in Europe for the digital asset ecosystem, because it has the talent and finance for industry players to thrive.

You can catch a glimpse of the full video of day one here.