Binance CEO Changpeng Zhao (CZ) said that it is better to regulate crypto rather than fight it.
Speaking at a Binance event in Athens, CZ made statements about the course of the crypto sector.
“It is Better to Regulate the Crypto Sector”
Following the collapse of the crypto exchange FTX, Binance CEO CZ spoke at an event in Athens and stated that it would be better to regulate the emerging sector than to fight it.
“I think most governments now understand that adoption is going to happen no matter what. Instead of fighting against the industry, it is better to regulate it”
The regulation of cryptocurrencies has become a major topic of discussion in light of FTX filing for bankruptcy protection in the United States on November 11, after its customers withdrew $6 billion from the platform in three days.
An estimated one million creditors face losing billions of dollars, according to Reuters. However, CZ believes that the crypto industry will recover from this devastating blow;
“(This year) has been a very bad year, a lot has happened in the last two months. I think we’re seeing now that the industry is healthier… just because FTX is doesn’t mean all the other business is bad.”
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