It is risky to run crypto exchange : Binance CEO

Changpeng Zhao said it is never easy to run a cryptocurrency exchange and also it involves lots of risk by considering the statement of their WhitePaper.

Binance which is a Largest cryptocurrency exchange of the crypto market facing lots of problems because of regulatory authorities of different countries. And now they have shown that they are ready to overcome such problems.

Changpeng Zhao, CEO of Binance,  tweeted “never easy”

The CEO of Binance reminded to their users that how they did their work perfectly according to the WhitePaper and also what type of achievement with small downfall they handled. And at the end he indicated how all things were to be done by them under lots of regulatory pressure.

Actually CZ tried to explain through his tweet how much problem they are facing in the current situation of the crypto market. Through the tweet they tried to say that they are not only facing the problem from cyberattack but also they are facing problems from regulators. But he also confirmed that they got lots of experience and can handle these things easily.

In the present time Binance is really facing warnings & issues by many regulatory authorities of this world. A recent report we can see where Hong Kong authorities raised issues against Binance and said that they are unauthorized and not a safe platform to choose for Trading because they are not under any regulation.

Related: Italian Regulators Raises Warning Against Binance

Beside Hong Kong & Lithuania there are Many countries authorities which are in the same list to fire on Binance these are the Cayman Islands, Germany, Italy, Japan, Poland, Thailand, the United Kingdom and the United States.

Read also: Federal Reserve Attorney says Stablecoins are not an “effective medium of exchange”