After a few scares, Binance ’s offensive moves start. Regulators around the world surrounded the biggest cryptocurrency exchange by market capitalization. Their lawyers were working overtime. There were pitfalls all around. A few months later, Binance is the one setting the rules. They’re the ones inviting the regulators to the castle. They’re trying to set the tone and define what a fully compliant cryptocurrency exchange is. 

The campaign started with Binance’s first traditional media ad in the company’s history. A full-page in the Financial Times and a website to complement it. “Crypto belongs to all of us. But there’s still work to be done if we want this breakthrough innovation to become part of our daily lives. Like seat belts in a car, a more regulated crypto market provides greater protections for everyday users,” says the ad’s copy. Exactly what the regulators want to hear. 

What Did Binance Say To The Press?

The company’s CEO, Changpeng Zhao AKA CZ, spoke to Bloomberg to spread the news. About the aim of their campaign, he told them:

“We have been communicating with many regulators around the world. As a new industry, we like to share what we think is important for users. 

We want to put this out there so everybody understands from our position what’s important. We already shared this — not in this format — with different regulators, and we want the users to know as well. We have a much more detailed framework that we share with regulators directly.”

He also tells them that the regulators were skeptical of Binance at first, but that in-person meetings have helped win them over. “When people see me in person, they say, “look, CZ is very reasonable, very calm, not a crazy guy.” In a related topic, when they ask him if the users leave as they tighten compliance, CZ answered “There is a small group of people who do not like to do know-your-customer rules, get verified etc. It’s a free market. There are other platforms they could use.” And then claims, “We only lose 3% of the users.”

Source: newsbtc.com

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