Binance CEO says crypto industry needs clarity of regulations

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Dominant cryptocurrency exchange Binance's chief executive Changpeng Zhao called for new but stable and clear regulations for the industry, in light of recent developments and participants 'cutting corners'.

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. REUTERS/Tom Wilson/File Photo

"We're in a new industry, we've seen in the past week, things go crazy in the industry," Zhao told a gathering of G20 leaders at the summit in Bali. "We do need some regulations, we do need to do this properly, we do need to do this in a stable way." "I think the industry collectively has a role to protect consumers, to protect everybody. So it's not just regulators. Regulators have a role but it's not 100% their responsibility," Zhao said.

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regulations? then it's not gonna be crypto anymore!!!

Now everyone wants regulatory clarity....sounds so scripted.

Don´t worry, Ripple is helping on that!

Decentralized currency is the best next invention right after Communism.

A network of criminals, grifters and swindlers.

Lol

Centralise the decentralised system... Sound like the fairy tale is ending with the death of the hero

Yes, closure !

Is he clear at all?

Central banks are worried

I thought lack of regs was their selling point

Banking systems should be named industry?

but crypto will beat the state, 😥

Hilarious!!! Binance is based in the Cayman Islands. Come onshore then, and get regulated.

Shamwow now you need the shimmy

Now he tells us

Crypto is a ponzi scheme designed to launder money. It needs to be stopped.

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