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Binance CEO Says New Crypto Laws Need to Keep Space For Innovation

Binance CEO Says New Crypto
  • Binance CEO and founder said he wants to meet with U.S. regulators regularly.
  • He thinks that the crypto blockchain is bigger than the internet.
  • CZ added that any new crypto laws need to keep space for innovation

The world’s largest crypto exchange Binance CEO and founder said he wants to meet with U.S. regulators regularly.

Changpeng Zhao, also known as CZ, talked about Binance, innovation, crypto regulation, and other things during an interview with BloombergTV.

According to his interview with Bloomberg’s Francine Lacqua, CZ discussed regulation, crypto ETFs, and future leadership changes. He thinks that the crypto blockchain is bigger than the internet.

In addition, he noted that the U.S. is very mature when it comes to crypto regulations. And the fact that some cryptos are listed on Nasdaq is a positive thing. More so, CZ added that any new crypto laws need to keep space for innovation.

Also, he told Lacqua that regulation is now where he spends 80% of his time. This comes amid Binance facing regulatory pressure everywhere over the last few months. This resulted in Binance shrinking non-KYC withdrawal limits.

Binance said it decreased the withdrawal limit for users who have completed its lowest-tier account verification. It implies that newly registered accounts can only withdraw 0.06 BTC per day.

Last month, CZ said he is willing to step down from leading Binance as CEO as the company seeks to become a regulated financial institution. He said he would do so when they find someone better at understanding regulations.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.