Changpeng “CZ” Zhao, CEO of Binance, has admitted the crypto exchange needs a centralized entity in order to satisfy regulators around the world.
“We have come to realize that we need a centralized entity to work well with regulators,” CZ said in an interview today with the South China Morning Post, adding that the company needs to have “clear records” of stakeholder ownership and risk controls.
The admission comes after a long and protracted summer of controversy for Binance, which has seen regulators from all over the world take aim at the exchange for operating without the requisite licenses.
Binance’s uneasy relationship with regulators
Binance has long had a complicated relationship with the world’s financial services regulators.
This summer, regulators from the UK, Italy, the Cayman Islands, Malaysia, Holland, Singapore, and Japan, have all voiced criticisms against the exchange.
The Dutch Central Bank and Japan’s Financial Services Agency have both iss
Źródło: https://decrypt.co/81066/we-need-centralized-entity-binance-ceo-changpeng-zhao
