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Binance CEO backs US President’ regulatory approach

Binance CEO backs US President’ regulatory approach

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The President from United States, Joe Biden, orders regulatory agencies to conduct research into the cryptocurrency business to develop better rules to protect consumer rights. After six months of Biden’s directive, relevant government agencies produced reports containing the proposals crypto regulatory framework This was necessary to promote transparency and avoid illegal activity.

The bitcoin studies released on Thursday drew criticism from a few cryptocurrency companies, who said the papers were not clear on some areas of the cryptocurrency ecosystem. Contrary to these claims, Changpeng Zhaoalso known as CZ, CEO of the world’s largest blockchain cryptocurrency exchange, praised the first government documents on crypto regulation and plans to cooperate with lawmakers.

CZ cooperates with international regulatory organizations

CZ cooperates with international regulatory organizations

These revelations come as Vice President Joe Biden’s administration seeks to develop a transparent ecosystem in partnership with government agencies. It covers calls made by the user Treasury is stepping up its efforts to monitor potential risks and other concerns related to bitcoin. The papers also highlighted the need for further research into the CBDC’s initiatives and action plans to deal with unsavory characters who move money illegally.

After several months of research and review of the blockchain system, the authorities that regulate it have prioritized a number of policy proposals contained in the report. It deals with, among other things, the leadership of the United States in the international financial system, the protection of consumers and investors, the fight against illegal financing, the promotion of financial market stability, economic competitiveness, financial inclusion and responsible innovation.

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