Regulation
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The CEO of the largest cryptocurrency exchange in the world is confident that regulatory transparency is needed to accelerate the adoption of cryptocurrencies among ordinary users.
During an interview with Yahoo Finance, Binance CEO Changpeng Zhao explained what should be the next important step for the adoption of cryptocurrencies by society:
“I really believe that regulatory transparency will make it easier to adopt cryptocurrencies. Of course, early adopters of cryptocurrencies are often libertarians or anarchists and do not welcome any kind of regulation. But for ordinary people, who make up 90-95% of users, regulation will make it easier to invest in cryptocurrencies.”
Binance CEO reminded that not all regulatory options will really benefit the industry:
“Transparency will definitely help. But I’m not saying that any laws will be good. It is necessary to look in each specific case. For example, some countries completely ban the use of cryptocurrencies, and naturally this is bad regulation.”
The businessman commented on the words of SEC Chairman Gary Gensler (Gary Gensler) that most of the cryptocurrencies fit the definition of securities. According to Changpeng Zhao, this is an overly simplistic view, as there are many different types of cryptocurrencies. For example, there are tokens and digital coins that are more like currencies or other assets:
“I can confidently say that a lot of tokens are definitely not securities.”
Earlier, Zhao noted that the current situation with inflation and rising energy prices in Europe is drawing the attention of citizens to digital assets, which means the prospects for the growth of crypto business.
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