"Global companies have global strategies. The execution of an MOU between Binance and Jersey is consistent with Binance’s stated goals of positioning the company on the global stage. As Binance said: “We have chosen Jersey to be the next big step in our global expansion strategy.” The important thing for Bermuda is that we were the first; others are following our lead. The Government of Bermuda continues to work with them to ensure that the undertakings set out in the MOU signed with the Government of Bermuda are fulfilled. Bermuda’s lead may well be followed by other jurisdictions and this makes it all the more important for us to continue to provide the sound regulatory and compliance framework in place to stay at the head of these global developments.”