Cryptocurrency exchange Binance Holdings said Dubai and Abu Dhabi are among the top candidates to be its headquarters.
Binance plans to hire 1,000 people this year, with many of them dedicated to roles that support regulatory compliance.
The company's annual compliance spending exceeds $200 million to meet those requirements, including U.S. oversight under the plea agreement.
The agreement with the Justice Department and other U.S. agencies included a $4.3 billion fine for failures that allowed criminals and terrorist groups to use the exchange.
The company faces years of compliance scrutiny by the Department of Justice and the U.S. Treasury's Financial Crimes Enforcement Network.
Binance’s spending on compliance has increased from $158 million two years ago, and is expected to increase further.
The monitors appointed by the US agencies, the Criminal Risk Alliance and Sullivan and Cromwell, have already begun work.
The planned hiring plan includes roles in customer service, and the expansion comes amid a recovery in crypto prices and trading volumes after a sharp decline in 2022 that affected the sector and caused many job losses.
