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Binance said on Thursday it had appointed a former DFSA executive as its chief regulatory liaison, part of an attempt by the world’s largest crypto exchange to undo regulatory red flags and reinvent itself as a regulated financial firm.

Binance and Huobi, two of the largest crypto exchanges in the world, have stopped taking in new accounts from users in China with Huobi going one step further and saying that it would shut down all the accounts of users from China by the end of the year.

Binance CEO Changpeng Zhao told tech publication The Information that depending on business growth, the American outpost of the world’s biggest crypto exchange is eyeing a potential IPO route to go public within three years.

Binance, the world’s largest cryptocurrency exchange, was placed on the Investor Alert List of Singapore’s financial regulator after the country’s central bank found it to be in breach of local laws.