2023-07-01 19:02:00
Binance's Powerful Co-founder Yi He Breaks Silence Amidst Regulatory Turmoil Despite a
long history spent away from the public spotlight,
Binance co-founder and senior executive
Yi He is finally
speaking up as two of the United States’ chief market regulators sue her company.
In an interview with Bloomberg
last month in Dubai, she argued
that Binance is a greater ally to regulatory compliance than virtually any other company
in the global crypto industry.
“If they really took the time to understand our industry, they would see that if Binance isn’t compliant, then practically no other global trading platform or offshore company is,” she said.
He’s comments
came two months after the Commodities and Futures Trading Commission
(CFTC) lawsuit against her exchange,
right before another case from the Securities and Exchange Commission
(SEC) earlier this month.
Both lawsuits
alleged that Binance engaged in forms of market manipulation
while also secretly serving customers within the United States from its international platform, among other things.
Despite
their long list of accusations, the
co-founder respects the attitude of regulators.
“I understand that the overall intention of regulation is good in order to protect investors,” she said.
Binance handles more
than half of the global crypto trading volume, yet much of the company’s operations
are shrouded in mystery, from its ownership structure
to its financial health.
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