Binance CEO CZ Ready to Comply With EU Crypto Regulations

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Big news for the crypto world! The European Parliament has given the green light to the first-ever set of rules regulating crypto asset markets. The new law, called Markets in Crypto Assets (MiCA), will provide comprehensive oversight and is set to have a significant impact on the industry. This move follows the collapse of major companies such as FTX and marks a crucial step towards regulating the sector on a large scale. 

Binance’s CEO has already expressed his readiness to make adjustments and comply with the new regulatory framework. Keep reading for more details!

CEO of Binance Expressed his Readiness to be in Compliance 

Changpeng Zhao, the CEO of Binance, the world’s largest crypto exchange, recently posted a tweet expressing his willingness to comply with the new regulations set by the European Parliament. He acknowledged the implementation of MiCA and stated that this marks the introduction of tailored regulations for the crypto market, aimed at protecting users and promoting innovation. 

CZ further commended this move, seeing it as a practical solution to the industry’s challenges. He confirmed Binance’s readiness to adjust its business practices over the next 12-18 months to comply fully with the new rules.

The European Parliament voted for MiCA to be implemented.

This means one of the world’s largest markets is introducing tailored regulations for crypto to protect users and support innovation.

The fine details will matter, but overall we think this is a pragmatic solution to…

— CZ Binance (@cz_binance) April 20, 2023