Binance, which is one of the top cryptocurrency exchanges, is not slated to make their foray into the South Korean Market as was rumoured. The company made it very clear that they will have nothing to with countries who have not yet decided on the legislative regulation of the the digital asset market. Changpeng Zhao, the CEO of Binance announced this at a conference in Seoul, Korea.
Zhao emphasised that they are ready to cooperate with jurisdictions that have established strict regulatory requirements for the cryptographic market if the authorities of the country are interested in distributing blockchain technology.
According Changpeng Zhao, Binance prefers countries with well-defined regulation and does not want to get into a situation where all the activities of regulators is reduced to talking
However he is of the opinion that the growing competition in the industry one way or another will stir the interests of the governments in cryptocurrency. He said,
“We cannot predict accurately when banks or authorities will change their attitude. But now changes are taking place not only in Asia, but also in Europe, Africa and the USA.”
The Binance cryptocurrency exchange was created only two years ago, but has been able to become the leading trading platform with trading volumes of more than 350,000 BTC, according to the Coinhills analytical source.The mainnet of the exchange, will be held in April, and during the same time their crypto-fiat platform, Binance Singapore is also scheduled.
The company’s which is based out of China, supports users all continents across the world. The company is constantly expanding its activities both in terms of geography as well as initiatives and sections. In the beginning of the year the exchange added a section for ICO fans called Binance LaunchPad, and today on Twitter the company announced the launch of the decentralized Binance trading platform at the end of this month.