Binance CEO Changpeng “CZ” Zhao has explained in a recent interview that the company is looking to launch a U.S.-based initial public offering (IPO) in the future. The crypto exchange has been stuck in regulatory crosshairs during the last few weeks and has had issues with payment providers. CZ also noted during his interview that the firm was looking for a new chief executive officer with a “very strong regulatory background.”
Binance Cheif Executive Says Company Is Looking for a New CEO
At the blockchain virtual summit Redefine 2021, Binance CEO Changpeng “CZ” Zhao discussed some of the company’s regulatory problems and the possibility of a future U.S.-based IPO. Binance has had issues with the UK’s Financial Conduct Authority (FCA) when the regulator issued a consumer warning against the crypto trading platform.
Besides the UK, Binance has received warnings from Italy, Lithuania, Thailand, Japan, Ontario, and South Africa. Payment providers like Visa and Mastercard are monitoring Binance, and financial institutions like Barclays, Santander, Clear Junction, and others have suspended services with the company. CZ spoke in another interview while all the regulatory crackdowns were happening and said: “compliance is a journey – especially in new sectors like crypto.”
CZ still seems to have an optimistic outlook and Binance, despite all the regulatory issues, is still the world’s largest spot and derivatives crypto exchange worldwide. Speaking at the blockchain virtual summit Redefine 2021, CZ explained that crypto infrastructure construction is hard and a long process. In order to “build products people use” CZ says that it is a “long journey as infrastructure will have to be built along the way.” Additionally,