Binance unveiled a series of measures it’s going to take to become what it says is a fully compliant institution.- The company has run into regulatory trouble in the UK, US, Japan, Canada, Italy, Germany, Thailand and Cayman Islands.
- A
tax advisor and an economist spoke about howregulation is going to be an integral part ofcrypto trading.
Binance, the world’s largest crypto exchange, is intent on cleaning up its compliance image, but it will take more than a few nods to the regulators to resolve the numerous bans and restrictions that it currently faces.
The company is going to have to totally overhaul its business model and, what’s more, anyone trading cryptocurrencies is going to have to get on board with the idea that, without tighter controls, their “HODLing” days may be numbered, according to two tax and financial experts.
Binance held a press conference this week at which it said it strives to be a fully compliant institution.
“Our goal is to help increase the freedom of money, all around the world, without sacrificing security and compliance,” CEO Changpeng Zhao…
