Binance CEO: We have to be smarter than users trying to bypass blocking
Binance CEO Changpeng Zhao gave an interview to Bloomberg, noting the positive impact of rising bitcoin prices and interest from companies such as PayPal, Fidelity and JPMorgan on the exchange’s business.
“We’re definitely seeing an increase in user flow, diffusion and institutional participation right now,” he said. “Overall, everything is going well enough.”.
Zhao noted that from a regulatory perspective, there have been many changes, both positive and negative, over the past year. Commenting on recent reports of blocking American users on the main site Binance.com, Zhao stated, “We’ve always blocked access from the United States, but users do sometimes find clever ways to bypass our blocks, so we have to get smarter. We are constantly trying to improve blocking. “.
Binance officially announced that its platform would not be used by US traders in September 2019. At the same time, a specialized platform Binance.US was launched. Zhao, speaking with Bloomberg, stressed that it functions as an independent education..
He also stated that China is “significantly superior” to other countries in the area of national digital currency and thus encourages others to pay more attention to this issue. “The first central bank to have a working digital currency will be in an advantageous position to attract international volumes. This can significantly help the dominance of the yuan, ”he added..
Previously, Forbes published an article about Binance’s plans to bypass regulation in the United States, but Zhao criticized the information in it as unreliable..
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