Binance has experienced nothing but positivity from regulations over the past few weeks. Binance, the world’s leading crypto exchange, is now licensed to operate in Bahrain, Dubai, Louisiana, and is undergoing a brokerage deal in Brazil.
The above licenses allow Binance regulatory approval to provide legal digital-asset services like trading, custodial services, portfolio management, etc., to users within those areas. On March 17, Changpeng Zhao, CEO of Binance, tweeted about these exciting events.
“This week so far: @Binance gets Bahrain License, @Binance gets Dubai License, @BinanceUS gets Louisiana License, @Binance to acquire brokerage in Brazil. It’s only Thursday. Build,” stated Zhao in his celebratory Tweet.
As far as regulations are concerned, Binance undoubtedly sees things turning positive. This news is warmly welcome, especially after a series of regulatory backlash in 2021 over apparent compliance and financial regulation inadequacies.
However, these alleged accusations allowed Binance to leave no room for skepticism. To comply with regulatory requirements, Binance hired a regulator to oversee Binance.US (the American subsidiary) and placed a cyber-crimes expert as Vice President of the Global Intelligence Team. Because of these efforts, Binance is now reaping the benefits.
The leading crypto exchange managed to circumvent extreme regulatory scrutiny with great relief and celebration. Had Binance crumbled under these regulatory pressures, the entire industry would have faced the damage. Regulators worldwide focused their attention on Binance as the leading crypto exchange; however, this situation allowed other valuable crypto stakeholders time to adjust to the growing demands and regulations. A win for Binance means a victory for the entire crypto industry.
Source : bsctimes.com
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