CZ Speaks on the recent regulatory crackdowns on Binance. He is calling regulations a positive sign.
Binance was forced to cease offering services to users in Ontario, Canada, on June 25th. The British bank Barclays stopped users from making payments to Binance commencing on July 5th. The exchange cited a regulatory notice issued by UK’s Financial Conduct Authority (FCA). The list goes on...
Binance has outlined three steps that it is taking to improve its compliance -
Increase the compliance team by hiring the right people with experience to guide the company.
force partnerships that will help implement new controls and regulation technology into its operating procedures
Finally, to localize the operation to meet the local regulations.
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I guess its the start of the crackdown on "regulations".
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