Crypto Exchange Binance Plans to Be Regulated Financial Institution, Seeks CEO With Strong Compliance Background – Bitcoin News

Binance CEO Changpeng Zhao (CZ) says that his company wants “to be licensed everywhere” and “From now on, we’re going to be a financial institution.” Following warnings by a growing list of regulators worldwide, Zhao also revealed that Binance is seeking “a strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization.”

Binance’s CEO Unveils Company’s Regulatory Compliance Plans

Binance founder and CEO Changpeng Zhao (CZ) has addressed recent compliance issues his exchange has been facing and reports of the exchange hiring a new chief executive.

Governments and financial watchdogs are paying closer attention to the cryptocurrency space. A growing number of regulators worldwide have warned Binance about operating in their countries without being properly authorized. They include regulators in Japan, the U.K., Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania.

Commenting on regulatory scrutiny, Zhao told journalists

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