Binance CEO Changpeng Zhao raises the prospect of an IPO within three years.
The CEO of crypto exchange Binance, Changpeng Zhao, has participated in an interview with news site The Information. In it, he expressed his openness towards a possible IPO of the US-based company’s division. If the crypto exchange‘s CEO has his way, such an IPO could happen as early as the next three years. Here’s what Zhao told news site The Information:
Regulatory pressure on Binance in Singapore
Meanwhile, the largest crypto exchange in the world continues to face a lot of regulatory pressure. For example, in Singapore, the Monetary Authority of Singapore (MAS) announced on September 2 that it would prevent Binance from offering unlicensed payment services to Singaporean customers. This is according to a report by The Business Times.
Since Binance has not applied for a license under the PS Act, the Central Bank of Singapore has placed Binance.com on the Investor Warning List. With this, the MAS is warning consumers that the crypto exchange is not regulated or licensed to offer payment services in Singapore,
according to the Monetary Authority of Singapore.
Meanwhile, Binance-Asia-Services (BAS), which is responsible for the Singapore branch, counters that Binance.com is not one of them. This is because BAS says it has applied for the license required by the central bank.
To The Business Times, the Singapore branch said:
Binance Singapore is a separate legal entity from Binance.com. Finally, we have our own local leadership and management team. We do not offer any products or services through the Binance.com website or any other affiliated companies. Also vice versa. The Singapore site focuses solely on growing the crypto ecosystem in Singapore (…).
In the event the grThe biggest crypto exchange benefits from the fact that it is not one big company, but is divided into several smaller ones. This is because regulatory pressure is increasing all over the world. So you don’t have to fight one big battle, but several smaller ones. That being said, the crypto exchange could use some positive news.