The exchange’s CEO said it plans to expand into the UK within the next 6 to 18 months, despite the country’s regulator ordering it to cease trading in June.

Changpeng Zhao, Binance CEO, said the exchange plans to expand into the UK within the next 6 to 18 months despite being ordered by the country’s regulator to cease trading earlier this year.

The UK Financial Conduct Authority (FCA) revoked Binance’s tradability in the UK in June amid extensive regulatory action against crypto exchanges. Binance is one of the largest cryptocurrency exchanges in the world.

To be a registered crypto asset company in the UK, the platform must comply with money laundering and terrorist financing controls. In response to those inquiries, Zhao said the company was considering starting a specific company to operate in the UK – much like its subsidiary Binance.US.

Zhao told the Telegraph on Dec. 4 that Binance plans to apply for an FCA license after hiring “a number of former UK executives” and “several hundred compliance staff” since the FCA announcement in June.

In October, the crypto exchange giant hired the former international relations director of the Dubai Financial Services Authority (DFSA) as senior liaison officer to help facilitate better relationships with international regulators.

Zhao also noted that the platform is already “fully interacting with regulators” and is in the process of making “some very significant changes” to its “product offerings, internal processes, etc.” ”

Related: Binance continues its push to become a regulated crypto exchange with new hires

With FCA approval, Binance can offer products such as futures and derivatives in the UK. In September, Binance announced that Australian users would have 90 days to close out their positions in leveraged futures, options and tokens as regulators continue to heat up.

Binance also previously suspended derivatives trading for users in Germany, Italy and the Netherlands to cease offering these products across Europe.

In August, the FCA released a regulatory notice saying it was “unable” to effectively monitor Binance because it had not yet responded to questions about its headquarters.

The exchange has denied all allegations of market manipulation but has still encountered opposition from many jurisdictions including Germany, Malaysia and South Korea.