Binance CEO Changpeng Zhao commended the digital asset reports released by the Biden administration despite a lackluster reception from some corners of the crypto industry.
“It’s great to see the US moving towards a proposed crypto framework,” said Zhao in a Twitter thread. “Getting it right will help protect consumers, markets and spark responsible innovation… the US’s whole-of-government approach to crypto regulation will bring much-needed consistency and clarity vs the current patchwork of state laws and regulations that govern this space. “
Zhao, in particular, was particularly complimentary of the focus on consumer protection, fraud and financial crime, saying that Binance embraces the opportunity to work with regulators.
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Tom is fintech reporter at The Block. Before joining the team, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. Tom has a bachelors degree in International Relations and Japanese from SOAS, University of London.