Binance will bring changes in its services ahead of MiCA’s crypto regulation framework
Changpeng Zhao (CZ) noted that clarity on the crypto regulation system is getting better in the European Union (EU) crypto market and confirmed that Binance will give a better push with changes in the Binance’s services in the EU.
Binance is a top-ranked crypto exchange, thanks to its transparent & secured crypto services. This exchange was founded by Changpeng Zhao (CZ) in 2017, as a Chinese crypto exchange. Because of the increasing regulatory pressure on the Crypto sector in China, Binance shifted its headquarters & core web servers outside China. Now Binance is a fully non-chinese crypto company.
Just a couple of days ago, Binance CEO CZ noted that the Markets in Crypto Assets (MiCA) grabbed full vote support in the European Parliament, which means MiCA’s crypto bill has been passed successfully.
CZ said that full support for MiCA is a clear indication that the crypto market in the biggest region in the world is going under a full clear regulation system which will also support crypto innovation.
“one of the world’s largest markets is introducing tailored regulations for crypto to protect users and support innovation,” CZ said.
Further, CZ said that MiCA’s crypto regulation also includes some fine details and that can be a small problem but opposite of those challenges here clarity on the rules is a most needed thing that the crypto businesses were demanding.
According to Binance’s CEO, now it will be easy for the crypto companies to operate a business in the EU and also he said that he is ready to adjust Binance’s crypto services to become fully compliant with the EU’s crypto regulation framework in the next year.
US SEC vs Binance
In the present time services of the Binance exchange are available in almost every country, where crypto trading is legal. In America, Binance services are available through an independent subsidiary BinanceUS.
Binance’s services are not available in the US jurisdiction directly but still, the United States Securities and Exchange Commission (SEC) sued this exchange and alleged that Binance provided unregistered crypto derivatives trading and also claimed that the Binance team never cooperated with the regulatory investigations against its services.
Read also: CZ proposes paid Twitter comment model via cryptocurrency use
