Changpeng Zhao shared his thoughts and people’s points of view on crypto exchanges and also indirectly targeted a published report on the Binance exchange by Reuters.
Binance is a popular crypto exchange, which is known for its pro-level services. In 2021, this exchange faced huge scrutiny issues by multiple countries’ regulators. Later investigations found that the exchange is doing its work separately under compliance. And for non-friendly countries, where the exchange was not allowed to give service, the exchange stopped its services. But besides all these things, Exchange is standing at the first position in this industry with the highest trade volume.
Recently Reuters published a report against Binance exchange and claimed that Binance took the advantage of internal connection with the government agencies’ officials to keep the close investigation away. And also the exchange CEO ignored the weak AML/KYC process to fully comply to give services.
However, on the same day, Changpeng Zhao, CEO of Binance exchange, replied that the exchange is following all compliance to provide services and also said that all the allegations are totally out of course.
On 22 January, Binance CEO again tweeted on this matter indirectly to ensure that Binance exchange is doing its work perfectly.
Zhao wrote that Binance is giving its services with full security like Banks. He said that if a bad guy will create his account on a bank and crypto exchange both, then in that situation Bank is ok but the crypto exchange will be bad. Through this statement, Zhao tried to say how the mentality of people works against this crypto industry.
Binance CEO hinted his followers and critics to take a look in the past, where Binance worked with the investigation government agencies against illicit activities and also in the investigation regarding the exchange itself.
However here Binance CEO didn’t mentioned anyone but here he is standing at a better point. A recent matter can be seen where Binance exchange sent two former US finance employees to help Pakistan FIA agency in a recent scam, where allegations were against the Binance’ executive.
Before this many times, the blockchain investigation intelligence team of Binance helped many secret agencies to fight against illicit activities like drug/illegal dealing involving the use of crypto-assets.
And also the whole Crypto space knows very well that Binance helped The US SEC agency and the Court by giving detailed papers of the Ripple company, regarding its own transactions and dealing.