• Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects.
• The denial followed an earlier report claiming Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• A Bloomberg report cites sources saying that Binance was reassessing its venture investments in the US.
Denial of Reports of Delisting US-Based Tokens
Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that his exchange is looking to sever ties with US-based projects. His comments followed an earlier report that cited familiar sources as saying Binance was planning to delist all US-based tokens, including USD Coin (USDC). In a tweeted response to one of the reports, Zhao termed the report as „false.“ He went on to suggest that this wouldn’t be the case given „blockchain has no borders.“
Bloomberg Report Claims Binance Reassessing Ventures in US
A Bloomberg report published on Friday cited sources claiming Binance was looking to end relationships with its partners in the US and reassess its venture investments in the country. While acknowledging that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies, Zhao noted this was just ‚for now.“
Focus on Education and Compliance
Zhao also linked to a previous tweet in which he says it is better to focus on education, compliance and product & service, and „ignore FUD, fake news, attacks, etc.“ It’s notable that Binance has been subject to a lot of FUD over the past few months.
SEC Suing Paxos For Unregistered Security
Today’s reports comes just days after the US Securities and Exchange Commission (SEC) said it was suing Paxos, the issuer of the Binance USD (BUSD) stablecoin. The regulator has labelled BUSD as an „unregistered security.“ That on top of the New York Department of Financial Services ordering Bitfinex/Tether for allegedly engaging in fraud related activities using Tether’s USDT stablecoin.
Conclusion
In conclusion while CZ denies reports suggesting they are delisting U.S based tokens it is clear there is heightened scrutiny by U.S regulators regarding cryptocurrency exchanges operating within their jurisdiction leading many exchanges taking precautionary measures