By
Marco T. Lanz
April 16th, 2024
In a recent interview Changpeng Zhao, also known as CZ, commented that he believes that Binance should resume operations in the US within “a month or two”.
Just recently Binance CEO Changpeng Zhao had an interview with Cheddar where he got asked about how long should the US residents wait for Binance to get back into the US market. CZ replied that he wouldn’t want to state any fixed dates, but users should expect it to happen within a month or two:
“I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”
It was previously reported that Binance announced that their exchange services are temporarily restricted in the US. However, either the CEO and the company in general never shared a pessimistic view on this. They always were optimistic about resuming their operations and now CZ sounds more confident than ever.
Moreover, CZ explained that they have partnered with BAM Trading Services. This company will help Binance to get all the essentially needed regulatory approval and will help to understand the US regulatory framework and environment, in general. CZ himself said that he “is no expert” in US regulation subjects, so he could only comment from his point-of-view.
Also, the reporter asked would this Binance US come-back mean that the exchange would operate within the state of New York – to which CZ replied a short “no”, explaining that “they don’t have the bill license.”
Additionally, CZ congratulated the US market as a whole calling it one of the most developed markets in the world for any industry, saying:
“I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market […] in a large market it is harder to regulate. Because you have more people, more cases, more situations to consider. Whereas in a smaller market it’s much easier to make the rules more relaxed and examine the issues on a case-by-case basis.”
Binance is one of the biggest cryptocurrency exchanges up to date. The exchange has a native cryptocurrency with its own blockchain – Binance Coin. The asset has recently experienced all-time highs of $37 and now is residing at $27 suffering a minor price set-back. All-in-all, Binance is considered to be the most transparent exchange in the industry and they also have mobile apps on Android and now again on iOS.