• Binance CEO Changpeng ‘CZ’ Zhao has denied reports that his exchange is looking to sever ties with US-based projects.
• Sources have alleged that Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• CZ acknowledged that the exchange had „pulled back“ on some deals, but emphasized the importance of education, compliance and product & service.
Binance Denies Reports of Delisting US-Based Tokens
Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that his exchange is looking to sever ties with US-based projects. In a tweeted response to one of the reports, Zhao termed the report as „false.“ He went on to suggest that this wouldn’t be the case given „blockchain has no borders.“
Sources Claim Binance Was Planning To Delist All US-Based Tokens
Earlier reports cited familiar sources as saying Binance was planning to delist all US-based tokens, one of those to potentially be delisted being USD Coin (USDC), a stablecoin issued by US-based financial services firm Circle.
Binance Pulls Back On Some Deals
While acknowledging that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies, Zhao noted this was just ‚for now.“ According to a Bloomberg report published on Friday, sources claimed Binance was looking to end relationships with its partners in the US, including banks. The crypto giant was also reassessing its venture investments in the country, the report added.
Focus On Education And Compliance
Zhao suggested it is better to focus on education, compliance and product & service and „ignore FUD, fake news, attacks,“ etc. This comes after New York Department of Financial Services ordering Paxos – issuer of the Binance USD (BUSD) stablecoin -to cease operations in New York State for operating an unregistered security.
Overall, while CZ denied reports of delisting any token based in the U.S., he did acknowledge that certain deals had been pulled back for now due to regulatory issues in America. He instead emphasised focusing more on education and compliance when dealing with such matters going forward.