Binances modus operandi of operating in the legal gray area and eschewing traditional corporate practices appears to be ending.

On April 1, it was reported that the exchange had named its first board of directors. Now, Binance CEO Richard Teng has suggested that the firm is closing in on deciding on a global headquarters.

The mystery surrounding Binances base of operations has long been a persistent point of contention as the exchanges leaders have previously expressed abhorrence to committing to or disclosing a home base. This tactic, regulators believe, has allowed it to skirt regulations.

In a statement signaling that Binances days of playing it fast and loose with regulations are behind it, however, Teng has disclosed that the exchange is actively seeking a place to call home. Speaking on stage at Paris Blockchain Week on Tuesday, April 9, he noted that the exchanges checklist was down to a few jurisdictions.

Considerations highlighted by Teng included how regulations would impact Binances products and services, as well as taxation.

The Binance CEOs statements come as the exchange finds itself in regulators cross-hairs worldwide, from the U.S. to the Philippines and, most recently, Nigeria. During the Tuesday interview, Teng offered comments on the latter.

Over the past two months, tensions between the Nigerian government and Binance have quickly escalated. Following claims that the exchange facilitated the manipulation of the naira through its p2p platform, it has also been slapped with lawsuits bordering on tax evasion and money laundering.

Amid this back and forth, authorities have also detained two of the exchanges executives, Nadeem Anjarwalla and Tigran Gambaryan, who were named co-defendants in the lawsuits against Binance.

While Anjarwalla managed to escape detention on March 22, Gambaryan remains in Nigerian detention and has recently been transferred to an infamous federal prison pending his trial. Speaking on the matter, Binances Richard Teng outlined that the exchange focused on negotiating the release of the financial crime compliance expert.

Teng, however, refused to go into detail, asserting that Binance was working closely with authorities to resolve the issue.

Binance, the worlds largest crypto exchange, has built a reputation of hopping jurisdictions and playing fast and loose with regulations. The firms recent plans to choose a global headquarters signal a significant shift in its operations towards greater transparency and accountability.

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Binance Hunts for Global HQ in Symbolic Operational Shift - DailyCoin