Changping Zhao seeks to make the US the crypto capital as Binance platform expands into the US market

The founder of Binance, the world’s largest cryptocurrency exchange, Changpeng Zhao (CZ), announced plans to make the United States a global cryptocurrency hub, sharing his thoughts on the market during a special press conference during the Binance Blockchain Week event at the Coca-Cola Arena in Dubai on December 3-4.

During the conference, a reporter asked a question about his future level of involvement in the US market following the presidential pardon granted to him by President Donald Trump. CZ responded by expressing his “deep appreciation for this pardon from the President” and emphasized that it would allow the Binance platform to conduct business more “freely” in all regions of the world, including the United States.

Zhao said: “I want to help make the United States the capital of crypto… The United States now represents an emerging land for the Binance platform, after suffering in recent years with the Biden administration to the point of trying to withdraw from the United States as much as possible, and we did not invest in the country and tried to leave it, but now I intend to support the crypto sector in the United States.

The United States becomes a strategic market for Binance

Zhao added that the US platform Binance – which was launched in September 2019 to serve US users – still exists, but it is only a small company for now.

Zhao spoke about the platform being prosecuted by the Securities and Exchange Commission (SEC) in 2023, which caused it to lose access to banking services and cancel its licenses in a number of states, but he currently sees the United States as a “very important market” and a leading region in terms of technical talent, although he believes that the most prominent executives in the blockchain sector are still outside it.

He added: “Large companies like Binance and other big players are still outside the US, so I want to help attract them back to this region… Additionally, many US investment institutions still don’t have access to Binance Coin (Binance-BNB), and we want to solve this problem.

Changping Zhao: US has clear legislation on digital currencies

The Cryptonews correspondent continued with questions about the challenges hindering crypto adoption globally and the Binance platform’s plan to address them.

Zhao first explained that regulatory frameworks still need more clarity in many countries around the world, noting that he is currently working with more than a dozen countries to find ways to implement the legislation. He added that a few countries have clear legislation on digital assets and stressed that the United States is leading the way: “The United States is taking the lead – which is a good thing – but it is still at the beginning of the path, because Trump has only been in power for a year. »

Zhao highlighted the progress the United States has made in approving the GENIUS Act, which sets clear rules for stablecoins, and discussed the CLARITY Act, which aims to set clear definitions and legislation for digital assets and is still under development.

He added: “The first bill will not be perfect and will take some time to develop, and banks will need to work closely with crypto companies… We need to integrate the sector with current financial systems in order to reach the stage of widespread adoption, and that is the best way to grow.

Changping Zhao talks about his time in prison

In addition to discussing the importance of the US market in supporting the expansion of the crypto sector, Changpeng Zhao (CZ) discussed his experience in prison, as he was sentenced – in April 2024 – to four months in US prison after admitting to violating US anti-money laundering laws.

“I have gone through many difficulties and been to prison, but I know that I have not harmed anyone,” Zhao said. “There was no fraud and I have not harmed any users through my actions, and I sleep peacefully at night because I am sure I have helped many people.”

The article Changping Zhao seeks to make the US the crypto capital with Binance platform’s expansion into the US market appeared first on Cryptonews Arabic.