The CEO of Binance exchange shared his point of view on the future of the crypto industry and how the regulation system will work.
Binance is a popular crypto exchange, which is popularly known for its pro-level crypto service for crypto users globally. Recently this exchange faced many scrutiny issues by the global regulators. In particular, they faced huge problems because of the US Regulators. US regulators thought the BinanceUS was under the control of the Binance exchange but under investigation, they found that Binance & BinanceUS are independent and they are operating their services separately without any influence on each other. After the legal hurdles, Binance Exchange pledged to make the Binance crypto exchange more favourable to the global financial regulators, so that the Binance team can make a better and friendly ecosystem in the crypto world.
Recently Binance CEO Changpeng Zhao appeared in an interview with Bloomberg. In the interview, Binance CEO shared his take on the crypto industry regulation and the future of crypto with the ETF. In the very beginning, Zhao said that most of the institutions are looking at Crypto.
“Most institutions or organizations should be looking at crypto at this stage.”
Zhao asserted that not only financial institutions are going for crypto but fintech firms are also adopting crypto at a higher level because they know very well that the future will rely on crypto payments.
“Crypto is going to be the future of the FinTech industry. And to be honest, it’s going to be the future of money.”
However, Zhao pointed to those players who keep criticizing the industry and calling it a bubble.
Further, Binance CEO touched the important thing for crypto that was Bitcoin ETFs. According to Zhao, “development of ETFs is a very positive thing.”
Zhao said that many bitcoin spot ETFs applications are pending and they will be backed by real Bitcoin. But these things will go through huge legal hurdles.
Zhao noted that only 5% of the people of the world only have an entry in crypto, so there is a big future with huge level adoption.
“..out of a billion people, probably only about 400 million people have crypto, it’s already a large number, but it’s only 5% adoption.”