Binance wants to be a regulated

Binance wants to be a regulated and reliable institution in the future, says CEO Zhang

The leading crypto exchange, Binance, is ready to make changes to work with the Regulators, Says the CEO of the firm. Binance wants to be a regulated institution around the globe in the future. This is the response of Binance regarding regulatory issues faced recently worldwide.

Binance is the largest crypto exchange by trading volume and recently saw a change of ruling chair. Binance has been facing issues regarding compliance with certain rules of the regulators. Previously, Binance has the policy that says we aren’t headquartered anywhere in the world because Bitcoin isn’t either. I think we are going to see a policy shift.

Binance wants to be a regulated

Binance wants to be a regulated institution:

South China Morning Post has published an interview of the CEO of Binance, Changpeng Zhao. In this interview he hinted at the policy shift of the firm stating:

 As we run a centralized exchange, we have come to realize that we need to have a centralized entity to work well with regulators.

Binance wants to be a regulated institution so, the firm has been trying to adopt the policy shift by hiring human resources. The human resources will step up the process of compliance of the firm with the regulators. Yesterday, the firm has hired a former Europol Dark web specialist, Nils Andersen-Roed. Investigations and audit teams will be strengthened by this hiring.

CEO further explained that if Binance wants to be a regulated institution then we must have clear records of stakeholders. He added further about how the firm needs to be prepared for the shift and work closely with the regulators.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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