Changpeng Zhao believes that crypto regulation is positive

Binance is the world’s leading crypto-currency exchange, and CEO Changpeng Zhao thinks regulation would be a good thing for crypto.

Binance CEO Changpeng Zhao thinks regulation will be good for the crypto-currency space. He made this known in an interview with CNBC’s Squawk Box earlier this week. The crypto-currency space has grown into a $3 trillion market, which has attracted the interest of regulators around the world.

Due to the changing nature of the crypto-currency market, regulators have struggled to properly regulate the space. Binance, the world’s leading crypto exchange, has come under scrutiny in recent months from regulators in various parts of the world.

As a result, Binance has had to make several changes to its operation. CZ said that Binance was transitioning from a technology company to a financial company and that regulation was needed in the crypto space. He added that;

“This year, most of the regulators around the world are looking closely at crypto, and many of them are communicating with us. So we think it’s a good time” to call for a global framework. We think it’s important for industry players to have a seat at the table. And we also think that some of the regulations, if they’re developed in a vacuum, may not have practical considerations in how they’re implemented, and they’re not very well enforced.”

Changpeng Zhao added that further regulation in the crypto market is inevitable. However, he believes that while regulation may seem strange for an industry that has become popular due to its decentralized nature, it will be good for the crypto space in the long run.

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Binance has hired former regulators in various parts of the world to lead its regulatory efforts. The exchange has had to discontinue some services in some parts of the world in order to regulate its operations and operate within the law.