Binance CEO Changpeng Zhao recently predicted that the cryptocurrency exchange will restart its US operations in two months. Zhao made the declaration in a recent Cheddar interview.
“In a Month or Two”
Zhao, who’s widely known in the crypto community by the moniker CZ, told the online news site that while he can’t provide a fixed date due to several things remaining in flux, he believes Binance would resume its operations in the US “in a month or two.”
The exchange platform temporarily limited its services in the United States because it was planning to open a new division once it receives the approval of the Financial Crimes Enforcement Network (FinCEN).
Collaboration with BAM Trading Service
The interview also touched on how US regulations are a vital issue, but CZ sounded confident that the company’s collaboration with BAM Trading Service will help them in navigating the country’s strict regulatory setting. He also said that now that they have a partner, they will be taking the opportunity to explore the market.
When asked about the impact the ambiguity of US regulations has crypto, CZ said he believes the country has one of the most developed markets because it has placed good regulations in the area of finance.
However, CZ also pointed out that cryptocurrency is a new thing, and with a market as large as the US, it is more challenging to regulate. But he said he was optimistic about the future of the country’s regulation. He cited the US’s straightforward legal structure for conventional financial services as proof that the environment for cryptocurrency will improve.