Binance boss Changpeng Zhao CZ said France is a natural choice to locate a regional or even global headquarters.
CZ spoke to the French financial media group Les Echos about the challenge of setting up physical locations, a move that was prompted by the global regulatory clampdown on Binance, which started during the summer.
The backlash caused a series of changes to the platform, including the removal of Singapore dollar trading pairs and the reduction of futures leverage to a maximum of x 20, to name a few.
In all instances, changes to how it operates were brought about by the need to meet regulatory compliance.
While some saw the clampdown as an attack on the world's biggest exchange, others said changes to how Binance operates are long overdue.
The sub-Reddit r Binance Lawsuit contains stories of aggrieved customers of the company who described their experiences as fraudulent to the extent of getting support for legal action.
CZ has always maintained that Binance is committed to putting its customers first. Any problems experienced on the platform were down to the platform growing too quickly, rather than any deliberate attempt to defraud.
CZ said that the firm is responding by shoring up its compliance team, including the appointment of key figures with the necessary compliance experience at board level.
A major criticism of Binance has been its decentralization structure. It does not have a physical headquarters with which to address complaints.
CZ said the firm is looking at having a setup of local, regional, and global locations, and that they have been working on this for a long time.
CZ said that the French regulators, the Autorit des march's financiers of the AMF, have received Binance presence in the country, and were pro-business, clear, but very demanding.
CZ said that more would be known in the next six to twelve months after applying for PSAN digital asset service providers approval.