Changpeng Zhao, the CEO of Binance stock market, under the pressure of regulatory institutions in many countries from the UK to Thailand, from Singapore to the Cayman Islands, made a statement to CNBC and once again showed their determination on regulations.
Evaluating Singapore’s warning decision on Binance.com, CZ stated that they did not have any problems in this country. Stating that he has many works with the Ukrainian state, CZ’s statements are as follows:
“We are in the process of licensing in Singapore”
We have two separate institutions. Binance.com is our global institution and does not serve customers in Singapore. He never gave. Binance Singapore, on the other hand, exclusively serves Singaporean users. It is currently going through the licensing process.
“KYC step was appreciated by regulators”
Regulators around the world are currently paying attention to crypto. Of course, they look at us, as we are the biggest player on a global scale. That’s why we took some steps. As an example, we have started full KYC implementation in all our institutions and services. If you want to benefit from our applications, you have to do KYC and this step has been appreciated by all regulators around the world.
“Even though it is bad in terms of PR, it shows the way”
To give another example, we’ve removed futures in countries like the UK, Italy, and Germany. We currently have some plans to go even further. Frankly, although these experiences are bad in terms of public relations and communication, they are also good in terms of directing our regulation practices.
“We provide consultancy to Ukraine”
At the moment, we are also working with the Ukrainian government on the crypto money law and we provide consultancy services to them. We do too many things. I can tell it all until morning.
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