Binance Co-Founder Denies Rumors of an Island Blockchain State by Cryptocurrency Exchange
Binance co-founder Hee Yi denied the futuristic claims of the Chinese fintech media, which reported that the cryptocurrency exchange is hatching a “plan of creation” to create a blockchain state on a private island, writes Cointelegraph.
The Yibencaijing portal, referring to “insider sources familiar with the situation,” wrote that the company has already bought the island and plans to conduct unprecedented tests on it, integrating blockchain into all spheres of life and making cryptocurrencies legal tender.
Hee Yee said that the company is indeed committed to the idea of “legalizing the cryptocurrency and blockchain industry at the global level,” adding: “The article in question maliciously distorts the image of Binance and creates a negative image of Binance among regulators. Found a state? The fabrication of such a story is sheer absurdity “.
In his article, Yibencaijing also refers to a document circulated in cryptocurrency circles this year entitled “Republic of the Blockchain”, which describes a sovereign state based on distributed ledger technology that will free humanity from the tyranny of centralized states or “the brutal law of the jungle of mutual distrust.”.
Earlier, the exchange denied information that its move to Malta is an attempt to evade regulation. According to the company, it chose Malta due to its progressive attitude towards cryptocurrencies..
Yibencaijing also mentions Binance’s agreement with the government of Bermuda last month, which apparently inspired the authors to write a blockchain state utopia..
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