Crypto regulation by enforcement is 'really, really bad,' says Binance CEO
Binance CEO Changpeng Zhao — commonly known by his initials, "CZ" — said crypto regulation, rather than unclarity is a better option. However, he said that regulation by enforcement is bad. "Having no regulatory clarity is the worst. Having bad restrictive regulations are better than that," Zhao said at the Hong Kong Web3 Festival on Wednesday. "And then having unclear ones and then chasing people by enforcement is really, really bad."
Zhao's comments come after he and Binance were sued by the U.S. Commodity Futures Trading Commission last month for allegedly operating an "illegal" exchange and a "sham" compliance program. Zhao, at the time, called the suit "unexpected and disappointing." At today's event, Zhao said there's a "very natural tendency" for regulators to borrow guidelines from the traditional financial industry and apply them to crypto — but crypto is different and a nascent industry. It should be allowed to grow, and then there are "always nefarious players, scammers, etc.," so "we need to find ways to limit those guys."
Source
https://t.me/Bitcoin_Crypto_Coin_Calendar
