Binance CEO Changpeng Zhao said the exchange is considering an initial public offering (IPO) of its business in the United States in the next three years.
Binance.US will do what Coinbase does
Zhao said that as the company strives to become a regulated financial institution, he is ready to step down as CEO. While he has no immediate plans to step down from the role, he said Binance has already developed a succession plan.
The world's largest cryptocurrency exchange has come under Pressure from global regulatorsdue to suspicions of using cryptocurrencies for money laundering and lack of licenses.
After a series of warnings, Zhao said he intends to cooperate with global regulators and “fully comply with their requirements” to protect his users and business.
At a press conference in July, CEO noted:
We need to become a licensed financial institution, wherever we operate.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Binance rolls out new transaction tracking tool
Despite the approaching 10-year anniversary of cryptocurrency, skeptics have not yet exhausted their argument that this technology is nothing more than a digital money laundering tool. In an attempt to refute unfair accusations, the Binance exchange has joined the Chainalysis cryptocurrency study in order to preserve its transcontinental ecosystem.
Matt Damon became the ambassador of Crypto.com
Oscar-winning actor Matt Damon has become the face of the Hong Kong crypto platform Crypto.com.
