Binance CEO CZ: Regulators want deep understanding crypto for correct guidelines

In a hearth chat through the Hong Kong Web3 Competition, Changpeng Zhao (CZ), CEO of Binance, expressed that it’s important for crypto regulators to have a deep understanding of the trade to facilitate correct crypto rules. The hearth chat was moderated by Deng Chao, the CEO of Hashkey Capital.

In accordance with CZ, “There’s a very pure tendency to borrow conventional monetary trade rules to use to crypto. Crypto is totally different from banks and conventional monetary industries” He went on to clarify that figuring out the solutions to easy questions like tips on how to classify totally different belongings is vital in deciding on rules for the trade, as there are various forms of crypto belongings. Some belongings could appear to be securities, others like commodities, or utility tokens, some could also have a mixture of these traits.

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