Deconomy: CEO Binance comments on location selection approach and platform in Singapore

Posted 05 April, 2019

Changpeng Zhao, CEO of Binance exchange has commented on the principles and criteria followed by the exchange while selecting a potential location for crypto-to-fiat platforms as well as provided more information regarding the launch of the Singapore-based exchange.

During the Deconomy conference held in Seoul this week, Changpeng Zhao confirmed that Binance's project in Singapore will come on stream this month just after similar exchanges go live in Uganda and Jersey. 

According to local media, he noted strict requirements set by Singapore but also highlighted that the country clearly realizes the potential of blockchain as the future technology. With this position, Binance and Singapore's authorities managed to come to terms regarding the launch of the trading platform here.

Besides, Changpeng Zhao also explained the company's position regarding the domestic market and possible launch of the services at home. In particular, he noted that they are ready to open a business only if the authorities welcome it, and thus the choice turns next to those jurisdictions that offer clear and complete regulation. 

Moreover, it also mentioned at the conference that positive changes in the countries can entail improvements in other ones. As Binance CEO concluded, it is hard to say when banking institutions and governments revise their stance towards cryptocurrencies, though by now Japan and Singapore have already managed to determine clear rules for the market.

Besides, the Deconomy conference was marked by the statements of South Korea's officials, which had noted a need for possible revision of Seoul's crypto regulation policy.

Previous story

05 April, 2019 17:04

← Missoula County regulation: crypto miners must use renewable energy

Cryptocurrencies miners in Missoula County (Montana, USA) have reportedly faced new regulation that was approved by the state authorities. The Missoula County Board of Commissioners during the recent meeting voted for amendments to the current rules covering cryptocurrency miners. Specifically, it was decided to launch a 1-year emergency interim zoning regulation for the mining companies.

Missoula County regulation: crypto miners must use renewable energy

Next story

05 April, 2019 12:42

Seoul can revise its cryptocurrency regulation policy →

South Korean authorities expressed intentions to revise the existing requirements to the cryptocurrency market. At the Deconomy conference held in Seoul this week, some Korean officials, including Chairman of the National Meeting said that there is a strong need to make a reassessment of the governmental approach to the cryptocurrency policy citing the need for providing the support to this segment.

Seoul can revise its cryptocurrency regulation policy
Write a comment
Prove you’re not a bot + 14 = 29