8:27:36 PM PDT - Wednesday, October 5th, 2022

Binance CEO sees positive progress for crypto regulation, but it will be a ‘long process’  

By Editor - Wed Sep 21, 12:17 pm

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Binance CEO Changpeng Zhao, known as “CZ” in the crypto world, said governments across the globe are making slow but “positive” progress toward regulating cryptocurrency. “On the regulatory side, I think we’re seeing a lot of progress in the positive direction for regulatory framework,” Zhao said in a video call aired live on stage at the Messari Mainnet conference in New York City on Wednesday with Ryan Selkis, the founder and CEO of Messari, a crypto market data firm. Binance is the world’s largest crypto exchange by trading volume, with about $15.9 billion in volume in the past 24 hours and over 90 million customers globally, according to CoinMarketCap data . It launched in June 2017 and within 180 days became the largest crypto exchange in the world. “When a regulator looks at this industry the first thing they will do is borrow from what they know already – how they regulate banks, exchanges, and move that into here,” Zhao said. “Later on they’ll realize this is a car, not a horse; this thing fits differently. You can’t put a saddle on it.” Zhao noted that when cars first were invented, people drove them with two straps – similar to how you would direct a horse – and steering wheels came later.

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Binance CEO sees positive progress for crypto regulation, but it will be a ‘long process’

  • Comments Off on Binance CEO sees positive progress for crypto regulation, but it will be a ‘long process’

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