Binance CEO CZ Talks About Recent US Customer Ban and New US Partner During Interview
- Zhao recently revealed that Binance is looking to establish an all-new trading platform exclusively for its US customer base.
In the past, CZ has also alluded to the fact that he is looking to completely revamp Binance’s existing business processes so as to fulfill local regulatory requirements in areas where the exchange is currently operational.
It’s no secret that Binance is currently one of the world’s largest crypto exchange platforms. Under the leadership of founder Changpeng Zhao, the exchange has not only made a name for itself within the altcoin sector but has also been able to lure in a number of big-name financial players (thanks to its various institutional-grade investor offerings).
During a recent interview with the Binance top-man, CZ was asked about his firm’s recent decision to ban new customers (based in the United States) from signing up on the exchange. In response, he stated that Binance is looking to launch a separate trading platform for its U.S customers so as to stay in line with the country’s existing legal framework.
Many from within the global crypto community feel as though Zhao’s latest move could have an adverse impact on his company’s native token offering called ‘the BNB coin’. However, CZ remains unfazed by all the negative publicity and believes that by complying with the USA's regulatory framework, the company will be able to lure in even more customers in the future.
In a recent conversation pertaining to Binance’s future, CZ was quoted as saying
“We didn’t have time to deal with every country’s policies around the world. Now, we do have a partner in the U.S. that can help us comply with different policies in different jurisdictions. But we were never targeting U.S. users.”
Zhao has requested his U.S. customers ‘to avoid acting hastily’ and simply hold on to their investments until further notice is provided.
Binance recently introduced a margin trading system into its native UI. The module is primarily targeted towards the needs and requirements of the company’s global investor base.
For those of our readers who may not be aware, margin trading had been one of the most requested features on Binance over the past year or so.