Binance CEO responded to regulatory pressures

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Lens1000

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The binance CEO responded to the pressure his exchanges is currently facing from financial regulators in some countries

Changpeng “CZ” Zhao cited that he is aware of the recent developments and his team are currently on top of the issues surrounding its operations in some countries. He reiterated that, the pressure is part of the company's development stage.

In his letter, the CEO reiterated that his exchange possessed requirements for using his platform including stringent insider trading policies where users are unable to actively trade any asset within a 30-day period.

Moreover, he pointed that binance has the requirements needed to operate in the cryptocurrency market. “We also recognize that with growth comes more complexity and more responsibility.” said CZ

How would you react to his statement?
 
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sincerem

VIP Contributor
CZ' (Changpeng Zhao) spoke admirably well as a CEO of the world number one exchange platform, concerning the ongoing doubt around binance which is initiated by those countries that said, Binance didn't acquire operational permit to launch operation in their country. With thos information I'm pleased to say, Changpeng Zhao is on top of it with his Binance team to clear the storm and move Binance exchange forward.
 

Bookwormlux

Valued Contributor
I think he did the correct thing as it is not good to leave binance users without any update about the current happenings and the way forward. This week alone I have been reading some things that are making me want to send my coins to other wallets from binance. His address has helped me to know that nothing is going to happen to binance.
 

sincerem

VIP Contributor
I think he did the correct thing as it is not good to leave binance users without any update about the current happenings and the way forward. This week alone I have been reading some things that are making me want to send my coins to other wallets from binance. His address has helped me to know that nothing is going to happen to binance.
The Binance CEO changpeng Zhao have proven himself that he is simply in for business and not mainly trying to operate illegally on those countries that detests Binance.com, he is always following due process to settle things well amicably. Binance isn't stopping by any means, CEO of the company is keeping it going and willing to run it long time, and that's our prayer.
 
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Deleted member 28127

Guest
CEO of Binance has totally right because he has to protect Binance and also he has to be loyal to Binance then may many CEO are not protecting their company in hard days like this so it is a good decision to be able to maintain same objectives and same point of view even in this time where some countries are legally against Binance.
 

Lens1000

VIP Contributor
CZ' (Changpeng Zhao) spoke admirably well as a CEO of the world number one exchange platform, concerning the ongoing doubt around binance which is initiated by those countries that said, Binance didn't acquire operational permit to launch operation in their country. With thos information I'm pleased to say, Changpeng Zhao is on top of it with his Binance team to clear the storm and move Binance exchange forward.
That is what was expected of him as the CEO of the embattled company. He noted that the challenges evolve as a result of the change in the policies of some countries due to the growth in the cryptocurrency space recently . Some of the countries where the ban is effective made a clearer regulation which binance was not aware of.

I think he did the correct thing as it is not good to leave binance users without any update about the current happenings and the way forward. This week alone I have been reading some things that are making me want to send my coins to other wallets from binance. His address has helped me to know that nothing is going to happen to binance.
It's normal when a particular company is going through the developmental stages.

I think he did the correct thing as it is not good to leave binance users without any update about the current happenings and the way forward. This week alone I have been reading some things that are making me want to send my coins to other wallets from binance. His address has helped me to know that nothing is going to happen to binance.
It's normal when a particular company is going through the developmental stages. I am very optimistic that there is no cause for alarm . He is on top of the situation and he as responded accordingly. I know that the regulatory pressure must have affected the company .it is very courageous of him taking a bold step

CEO of Binance has totally right because he has to protect Binance and also he has to be loyal to Binance then may many CEO are not protecting their company in hard days like this so it is a good decision to be able to maintain same objectives and same point of view even in this time where some countries are legally against Binance.
This is his duty as the CEO of the company. He can't deny the company when it's facing a serious challenges. There are more countries who will still come with different regulations against binance. I heard that japan is trying to ban the company lately. I think the CEO should be proactive to taking a bold step before other countries starts springing up with regulatory issues
 

Josemendez

Verified member
I think what he said are undeniable facts . The world if cryptocurrency has always been on attack from many regulatory bodies. It should not be an issue for investors with the regulatory appeal on Binance.
Am glad Binance has responded to some of these regulatory bodies and have been able to come to consensus with these companies.
 

sincerem

VIP Contributor
That is what was expected of him as the CEO of the embattled company. He noted that the challenges evolve as a result of the change in the policies of some countries due to the growth in the cryptocurrency space recently . Some of the countries where the ban is effective made a clearer regulation which binance was not aware of.
Interesting, Binance CEO changpeng Zhao have proven himself that Binance is on for greatness and not falling down cos of decision and statements beckoned against them acting suspiciously by operating without license. I believe those countries just want to receive commissions too from Binance, cos they're hearing that Binance pays countries before gaining operational permit. So they want to take advantage, by taking the matter viral.
 

Lens1000

VIP Contributor
I think what he said are undeniable facts . The world if cryptocurrency has always been on attack from many regulatory bodies. It should not be an issue for investors with the regulatory appeal on Binance.
Am glad Binance has responded to some of these regulatory bodies and have been able to come to consensus with these companies.
Most especially the government. They see bitcoin as a threat to their autonomous authority over money. Cryptocurrency is the people's power to control money without the involvement of the third party and this is what the government do not like. The government are know to use and misuse money for their selfish means

Interesting, Binance CEO changpeng Zhao have proven himself that Binance is on for greatness and not falling down cos of decision and statements beckoned against them acting suspiciously by operating without license. I believe those countries just want to receive commissions too from Binance, cos they're hearing that Binance pays countries before gaining operational permit. So they want to take advantage, by taking the matter viral.
I don't think that the allegations are based on licensing issue, because he made it clear that they have the right to operate in the countries in question. Some policies may have changed in UK which binance is yet to comply with. This change are actually caused by the drastic growth in the cryptocurrency space
 

sincerem

VIP Contributor
I don't think that the allegations are based on licensing issue, because he made it clear that they have the right to operate in the countries in question. Some policies may have changed in UK which binance is yet to comply with. This change are actually caused by the drastic growth in the cryptocurrency space
You're right dear. The Cryptocurrency space is on the extreme growth. That's just the Case, they just want to charge commissions from Binance, make some new policies cos things change around crypto ecosystem. Binance CEO changpeng Zhao is on top of that issue, trying to dampen the ongoing uncertainty around Binance operational permit in their country.
 

Lens1000

VIP Contributor
You're right dear. The Cryptocurrency space is on the extreme growth. That's just the Case, they just want to charge commissions from Binance, make some new policies cos things change around crypto ecosystem. Binance CEO changpeng Zhao is on top of that issue, trying to dampen the ongoing uncertainty around Binance operational permit in their country.
There is no doubt that he is facing a serious pressure right now. I think binance wants establish a very big company in UK before the issue came up. It seems that it has the highest number of users in UK. I am looking at the effects it will have on the company. So many people may have withdrawn their cryptocurrency from the exchange
 

sincerem

VIP Contributor
There is no doubt that he is facing a serious pressure right now. I think binance wants establish a very big company in UK before the issue came up. It seems that it has the highest number of users in UK. I am looking at the effects it will have on the company. So many people may have withdrawn their cryptocurrency from the exchange
The future of Binance there is hanging on the fringes in UK since its users are simply moving their coins away from the exchange site. I believe Binance will settle that amicably in the future. Those law makers are simply making thongs difficult for Binance, saying that the exchange platform is not following due process. I believe the CEO is on it, trying to recover the site to be accepted again in the country.
 
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