1 year ago
1 min read
Binance CEO Voices Concern Over Lack of Clarity in Crypto Regulations
Changpeng Zhao, founder, and CEO of Binance, the largest cryptocurrency exchange in the world, has called for clear regulations in the crypto industry. Speaking at the Web3 Festival in Hong Kong, Zhao said that having no regulatory clarity is the worst and that having bad restrictive regulations is better than having unclear ones that lead to enforcement actions. Zhao emphasized that regulators need to understand the nuances of crypto and that the industry is different from the traditional financial industry. He added that there is a natural tendency to borrow traditional financial regulations and apply them to crypto, but that