We Need a Centralized Entity’: Binance CEO Changpeng Zhao

Read the original article by: Scott Chipolina

Changpeng Zhao, CEO of Binance, has admitted the crypto exchange needs a centralized entity to satisfy regulatory requirements.

After two years of campaigning that his exchange needed no “centralized entity”, even going as far as saying that wherever he was, was the headquarters. But the CEO of arguably the biggest exchange in the world, Changpeng Zhao (aka CZBinance) seems to be reversing course on this decision, “We have come to realize that we need a centralized entity to work well with regulators,” Mr.Zhao, said, speaking with South China Morning Post. This comes after many months of scrutiny from countries such as the “UK, Italy, the Cayman Islands, Malaysia, Holland, Singapore, and Japan”, due to Bianances operations without licensing. There was no mention of where the exchange would eventually land, but the world will be watching when that decision comes.