Binance will resume operations in less than two months according to the CEO of the platform Changpeng Zhao and in the coming altcoin news today we find out more about it.
The CEO of the major crypto exchange Binance predicted that his platform will resume crypto-to-fiat operations in the United States in less than two months. Zhao or CZ as he is known in the crypto community made his predictions in an interview with the online media news outlet Cheddar on August 15th and when he was asked about the return of the platform to the US operations Zhao noted:
“I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”
Back in June, Binance announced to be restricting services in the United States because they focused on opening a new division which will operate with the Financial Crimes Enforcement Network’s approval at that time. The U.S. regulation has been a major issued in today’s developments and Zhao even noted that the partnership with BAM Trading Services will help the company to navigate the platform around the regulatory environment in the US:
“I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market […] in a large market it is harder to regulate.”
The CEO Of the exchange pointed out that Binance will resume operations in less than two months after he expressed optimism for the future of the US regulation saying that the country’s clear legal framework for traditional financial services serves as a shred of evidence that the environment for crypto will improve dramatically. Despite his optimism, however, Binance experienced a lot of issues with the security matters in the past couple of weeks. As noted in the latest cryptocurrency news, there was a dusting attack on Litecoin and Litecoin wallets that affected more than 300.000 Binance users. Back on August 7th, the news emerged that the exchange became a victim to a hack that exposed the Know-your-customer data of its users.
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