- More than 2,400 companies are listed with the exchange
- CEX often uses this practice to circumvent legal restrictions
A small warehouse in Mildenhall, Suffolk, which is what the office of the multi-billion dollar exchange looks like. As it turned out, Binance used a shell firm to register on the local market.
An image of a small backroom appeared on the r/Buttcoin subreddit yesterday, June 19. The author claimed it was the office of Binance Ltd, which also confirms the firm’s legal address.
Mildenhall is a small town in the east of the country about an hour and a half from London. There is a one-story warehouse at the address indicated in the papers.
It is obvious that this is a shell company. But the most interesting thing lies elsewhere. If you type the address into the Companies House search box, the registry will return 2403 results.
This means that Binance shares an “office” along with a couple of thousand other companies. This practice is not new, but you wouldn’t expect it from a global cryptocurrency exchange with huge fund turnover.
As it turned out, the premises belong to the firm OfficeServ.. It’s a service to provide a virtual registered address, apparently to create the appearance of a legitimate business.
We reported earlier that Binance was cancelling registration in the UK. This may be due to the fact that a number of European regulators are involved in the investigation of the platform.
This may be due to the fact that a number of European regulators are involved in the investigation of the platform.