Binance CEO Changpeng ‘CZ’ Zhao has revealed that the US branch of the exchange will launch within the “next two months”, according to an interview on Cheddar.
The 42-year-old billionaire stated that the exchange would only be launched once it was fully compliant with United States regulations, admitting that “there are a lot of things in flux”.
In June, Binance.com stopped serving US customers, with the company revealing plans to eventually launch a regulated fiat-to-crypto exchange in the North American market.
Binance US will launch in partnership with BAM Trading Services, which recently appointed former Ripple executive Catherine Coley as its CEO in July.
The SEC, CFTC, and NYDFS are all notorious for their stringent regulatory frameworks in terms of emerging financial industries. This was highlighted earlier this week as yet another ICO faced an emergency lawsuit from the SEC.
— CryptosBatman ⚡ (@CryptosBatman) August 16, 2019
“The US historically has made very clear regulations, so we hope that will clear up,” CZ said.
“At the same time, some early adopters in this space will be better rewarded. There are uncertainties in the regulatory space, but we’re willing to try.”
He said that in spite of the murky regulatory landscape, Binance is keen on “taking the opportunity” to enter the market.
“The US has always been a very important market – globally it’s one of the biggest markets for any business, including in cryptocurrency,” he continued.
“We want to be fully compliant. Before we didn’t feel we had the experience to do that but now we have our partners, so we want to take this opportunity to explore the market.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.