Binance Academy has entered into an understanding with Shanghai's local authorities to set upwards an office in the country. The initiative volition reportedly be devoted to research blockchain technology in accordance with an Oct. 24 statement from Xi Jinping promoting its use.

Equally announced on March 27 by local news outlet TheBlockBeats and Binance's CEO Changpeng Zhao, Binance Academy will plant the Lingang Blockchain Engineering science and Industry Inquiry Found in Shanghai'south Lingang special economic zone.

The initiative is the consequence of cooperation with local organizations in the Lingang surface area, and is set to promote China's blockchain technology research and industrial application, equally well as promoting talent training within Red china.

The research institute was established in response to a push from the Chinese regime to develop blockchain engineering science, with Helen Hai, head of the Binance Clemency foundation and lead for the new institute, noting:

"In establishing the Lingang Research Institute with our local partners, Binance Academy endeavors to build a leading retrieve tank and research hub that contributes to large-scale developments in blockchain technology."

Don Tapscott, founder of the Blockchain Research Institute in Canada, will be the honorary dean of the Lingang Research Institute.

Is this a Binance role?

In November, a rumor circulated that Binance'southward office in Shanghai was raided past police. As reported past Cointelegraph, Binance denied both the raids and even the existence of the offices. Officially, the company is incorporated in Malta and has several branches around the world.

However, a statement from Maltese regulators in February claims that Binance was never regulated in the country. Local Maltese reporters claimed that its legal headquarters are in the Cayman Islands.

Nevertheless, Binance CEO Changpeng Zhao frequently reiterates that Binance is a "decentralized organization" working from many locations across the world through heavy employ of remote work.

In an interview with Cointelegraph, he besides said that he likes to "proceed mobile" and being "able to live in a different city every month" — though he did not explicitly confirm that he regularly succeeds in doing and then.

Binance's Lingang Research Constitute is thus more likely to be like to local branches such every bit Binance Singapore or Binance Jersey. It is not an commutation, and is unlikely to be the centre of any business activity for the visitor.

Even though China supports blockchain, it is yet a harsh critic of cryptocurrencies — and it has banned crypto exchanges since 2022.