Why Trust Wallet, the CZ-Owned Crypto App, Is Looking to the UAE
- Platform CEO Eowyn Chen has relocated to Dubai from the US
- Trust Wallet says sees growth in emerging markets like India
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Even before the US government demanded that Binance Holdings Ltd. pay $4.3 billion in fines and accused its founder Changpeng “CZ” Zhao of various crimes, the crypto exchange had been facing significant regulatory challenges globally.
Australia canceled Binance’s license for a derivatives operation and searched several of the company’s locations there. Singapore ordered the firm to stop doing business in the city state. Hong Kong warned more than two years ago that Binance was an unregulated platform. Even Dubai, where CZ primarily resides, has yet to grant the exchange full authorization.