{"id":67153,"date":"2022-09-14T16:31:33","date_gmt":"2022-09-14T13:31:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67153"},"modified":"2025-09-07T05:08:48","modified_gmt":"2025-09-07T02:08:48","slug":"changpeng-zhao-hails-eu-crypto-regulation-bill","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/changpeng-zhao-hails-eu-crypto-regulation-bill\/","title":{"rendered":"Changpeng Zhao hails EU crypto-regulation bill"},"content":{"rendered":"<p>Approved by EU authorities <a href=\"https:\/\/u1f987.com\/en\/news\/europe-reaches-agreement-on-sweeping-crypto-regulation\">the regulation bill for cryptocurrencies<\/a> <span data-descr=\"Markets in Crypto Assets, \u0440\u044b\u043d\u043a\u0438 \u0432 \u043a\u0440\u0438\u043f\u0442\u043e\u0430\u043a\u0442\u0438\u0432\u0430\u0445\" class=\"old_tooltip\">MiCA<\/span> is &#8220;fantastic&#8221;, but &#8220;a bit strict&#8221; with regard to stablecoins. This assessment was given by Binance chief Changpeng Zhao.<\/p>\n<p>The document describes rules that apply to issuers of unsecured crypto assets, &#8220;stablecoins&#8221;, trading and custody platforms.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-block-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Day 1: Binance Blockchain Week - Paris\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/vHs3E54aZuE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The bills do not accommodate USD-backed stablecoins, which account for 75% of liquidity in the market,&#8221; Zhao said during Binance Blockchain Week Paris.<\/p>\n<\/blockquote>\n<p>However, he praised the EU authorities&#8217; work. In his view, the document could become &#8220;a global standard&#8221; in regulating cryptocurrencies for other jurisdictions.<\/p>\n<p>The head of the Bitcoin exchange also called Paris a potential &#8220;crypto-financial center of Europe and a large part of the world&#8221;. Zhao suggested that in the next five years the industry in France will &#8220;explode&#8221; thanks to favourable taxation and simpler employment legislation.<\/p>\n<p>In 2017, French President Emmanuel Macron <a href=\"https:\/\/fr.wikipedia.org\/wiki\/R%C3%A9forme_du_code_du_travail_fran%C3%A7ais_en_2017\">carried out<\/a> a reform designed to reduce unemployment. It simplified the system of relations on the labour market. According to Zhao, Binance has already hired 150 people at the Paris office and plans to expand the staff &#8220;by a couple hundred&#8221; by the end of 2022.<\/p>\n<p>In April the exchange announced a partnership with the French startup incubator Station F and <a href=\"https:\/\/u1f987.com\/en\/news\/binance-announced-e100-million-investment-in-france\">investments of \u20ac100 million<\/a> as part of expanding its presence in Europe.<\/p>\n<p>One month later Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-secures-digital-asset-service-provider-license-in-france\">obtained a license<\/a> as a provider of services on the digital asset market from <span data-descr=\"France's financial markets regulator\" class=\"old_tooltip\">AMF<\/span>, as well as approval to custody and trading of cryptocurrencies.<\/p>\n<p>Earlier, former CFTC chairman Christopher Giancarlo warned that EU regulation efforts <a href=\"https:\/\/u1f987.com\/en\/news\/ex-cftc-chief-sees-threat-in-european-crypto-regulation-bill\">threaten to impose the European model<\/a> and would hamper the ability of US regulators to craft their own rules effectively.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU-approved regulation bill for cryptocurrencies MiCA is &#8220;fantastic&#8221;, but &#8220;a bit strict&#8221; with regard to stablecoins. This assessment was given by Binance chief Changpeng Zhao.<\/p>\n","protected":false},"author":1,"featured_media":67154,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[935,733,36],"class_list":["post-67153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-changpeng-zhao","tag-europe","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67153"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67153\/revisions"}],"predecessor-version":[{"id":67155,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67153\/revisions\/67155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67154"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}