Global cryptocurrency exchange Binance has made regulatory compliance its top priority. The exchange is on a hiring spree to “significantly” add to its compliance and legal teams. “We are going through a pivot from a technology innovator into a financial services company, so we need to be fully compliant,” said the CEO of Binance.
Binance’s Regulatory Compliance Plans
Binance is focusing on regulatory compliance as the exchange pivots from a technology startup into a financial services company, CEO Changpeng Zhao (CZ) explained in an interview with Bloomberg TV Tuesday.
Commenting on crypto regulatory efforts in the U.S., he said: “The U.S. is very mature on the crypto regulation part. They are leading now. They have a cryptocurrency exchange listed on Nasdaq which is very positive.” The executive continued:
When the new crypto regulations come in, many of them will be somewhat restrictive. That’s kind of expected. But over time, we do think that regulations will adjust
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