Regulatory clarity will ease adoption, says Binance CEO

The chief executive officer of Binance crypto exchange said that regulatory clarity will help to push crypto adoption in the non-crypto sector.

Changpeng Zhao is a popular personality in the crypto & non-crypto sector. In the non-crypto sector, he is popular as a wealthy person in the world. The estimated net worth of Zhao is at least $96.5 billion, as per Bloomberg Billionaires Index. Zhao is the CEO & founder of the Binance crypto exchange. Due to highly secured crypto services, Binance is standing at the first rank in the crypto industry, in terms of 24 hours global crypto trade volume on its platform. 

Recently Zhao appeared in an interview with Yahoo Finance, where he talked about the main factors, which can practically push the adoption of crypto in the non-crypto world, where people are not showing interest in cryptocurrencies. 

Zhao said that better & clear crypto laws will help to push the crypto & blockchain sector adoption. 

“I do believe that having regulatory clarity will ease adoption. There is a group of guys who got into crypto early, many of them may be libertarians, anarchists, etc. They hate any kind of regulation,” Binance’s CEO said.

Further, Zhao said that 90-95% of the world, which are not in the crypto sector, may find it easy to get into crypto because of crystal clear regulatory laws. 

Crypto billionaire further pointed out that not all crypto regulatory frameworks are good. Zhao indirectly dragged the Crypto ban policy of China, where no one is allowed to deal with crypto assets in any way. 

“Bad regulations are bad. Good regulations are good.”

Zhao also responded to the comment passed by the US Securities and Exchange Commission (SEC) chairman, who said that majority of the Crypto assets are Securities. Zhao said it is only a simplistic view of the SEC chairman. 

According to Zhao, there are huge numbers of crypto assets that are different from each other by nature & use cases, and also he can distinguish many crypto assets which are not Securities.

Read also: Solana network is now live following an outage on 30 Sep