The global regulations pressure is not a secret anymore, and the subject has been making waves in the crypto space a lot.
Check out some interesting points of view that the CEO of crypto exchange Binance has to offer about all this.
CoinDesk revealed some of Changpeng Zhao’s ideas on the matter, and you can check out more details below.
It seems that CZ has likened the recent pressures by regulators against his exchange business to that of the initial development of the car.
More regulations are positive signs, CZ believes
In an open letter on Wednesday, he said the adoption and development of crypto include many parallels to regulations around automobiles in that “laws and guidelines were developed along the way.”
“We are seeing wider adoption of cryptocurrencies globally and the need for clearer regulatory frameworks in different countries,” said CZ.
He continued and said that “More regulations are, in fact, positive signs.”
As CoinDesk pointed out, he said that “Compliance is a journey – especially in new sectors like crypto.”
He also noted the crypto industry contained a lot of uncertainty. “We also recognize that with growth comes more complexity and more responsibility.”
The crypto space has been developing and growing with the speed of light, especially back in 2020 and 2021, when the world has been in one of its biggest crises ever.
The fact that the crypto space is growing and getting stronger in such global disastrous times only shows the strength and power that cryptos hold.
Bitcoin is seeing a stable development
By analyzing the data provided by CoinGhecko, the BTC has had a stable development, and it has managed to attract investment firms.
However, those known as long-term holders are not selling their BTCs, and this means that the Bitcoin market is a bull market, in which there is optimism and the price of the BTC is stable or slowly going up.