It seems that Binance has made a big step forward and achieved incredible results. In a landmark move, CEO Changpeng Zhao announced that Binance Academy would formally establish an office in Shanghai.

Setting up an office in Shanghai marks an important milestone of Binance

In today's Twitter post, CZ praised the achievements of the Binance Academy team. They have achieved an important milestone when successfully negotiating with local authorities and opening legal offices in China.

In other news, @BinanceAcademy reached a milestone agreement with the local government and will setup an office in Shanghai. The official signing ceremony just happened today. 👏🔶👏https://t.co/bgulAFnaA5 pic.twitter.com/Kjctjfu20Z

- CZ Binance 🔶🔶🔶 (@cz_binance) March 27, 2020

“The Binance Academy marked a major turning point when the agreement successfully with the local government and will set up an office in Shanghai. The official signing ceremony just took place today. ”

According to local Chinese news site Blockbeats, the Chinese Binance team will together with members of Lingang Xinyefang University and Lingang Innovation Management College set up a research institute in Shanghai.

All relevant players will take advantage of "corresponding industrial and technological advantages" to promote China's core blockchain strategy research, including industrial application development, talent training. and education.

The official signing ceremony took place today. CZ congratulated them on this great feat. Because, after all, China is notorious for not liking crypto companies to be present on their land.

Crypto Godfather, CEO Block Journal, commented that:

"Congratulations. Binance has made a big step forward. ”

And CZ answered:

“Yes, most people do not realize this fundamental change. But that's okay. ”

Is China getting closer to crypto?

While pointing out the importance of the achievement, CZ also said it was only a "small step forward". However, these slow but steady steps would be better than those giant, erroneous steps.

However, the fact that Binance established an official office in Shanghai does not mean the government has been "gentle" with Bitcoin.

There is no information about the office location and certainly there will be no green light for a Binance HQ. So why did CZ and his followers create a "lyrical song" for this achievement?

Take a look back at the events that took place in November 2019. The Chinese government seems to continue purging the crypto company, closing its office and report raid buildings, including Binance's office in Shanghai.

After an article by The Block revealed the exchange's office was raided, CZ vehemently stated:

“No police, no raids, no offices. Hope you didn't pay to read that FUD. ”

The fact that Binance has an office in Shanghai has been repeatedly dismissed. In fact, CZ later stated that he would sue The Block for giving false statements and ruining Binance's name.

He said that Binance does not have an office in Shanghai and reports that it is inaccurate, he also added:

“There are lots of 'vacant garden' offices in Shanghai, I am sure you will understand. There is already a photo (of a corridor) circulating online in China. ”

He then argues that office is an outdated concept and time is always changing:

Office and HQ are old concepts like SMS and MMS. Time is moving on ...

- CZ Binance 🔶🔶🔶 (@cz_binance) November 20, 2019

“Office and Customs are old concepts like SMS and MMS. Time is slowly passing by ... ”

After 4 months, it seems that the offices are back in operation. As long as they are officially approved by local Chinese authorities.

Thuy Ngan

According to Bitcoinist

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