{"id":74090,"date":"2023-02-14T17:57:27","date_gmt":"2023-02-14T15:57:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74090"},"modified":"2025-09-09T18:07:58","modified_gmt":"2025-09-09T15:07:58","slug":"binance-ceo-identifies-favorable-countries-for-bitcoin-business","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-ceo-identifies-favorable-countries-for-bitcoin-business\/","title":{"rendered":"Binance CEO Identifies Favorable Countries for Bitcoin Business"},"content":{"rendered":"<p>Crypto entrepreneurs should consider relocating to a country with favorable regulation of the bitcoin industry. This was stated by Binance CEO Changpeng Zhao during a talk on <a href=\"https:\/\/twitter.com\/i\/spaces\/1eaJbrRvdlkJX?s=20\">Twitter Spaces<\/a>.<\/p>\n<p>He names Dubai (UAE), Bahrain, and France among those jurisdictions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIf you take your project seriously, relocating to a new country could be a decent move,\u201d said Zhao.<\/p>\n<\/blockquote>\n<p>The advisory from the Binance CEO came amid tightening regulation of the industry by US authorities. In particular, it concerns the New York State Department of Financial Services <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-new-york-regulator-opens-investigation-into-paxos\">investigation<\/a> into the infrastructure company Paxos. Subsequently, the regulator ordered the firm to discontinue the issuance of the Binance USD (BUSD) stablecoin. The <a href=\"https:\/\/u1f987.com\/en\/news\/sec-warns-paxos-of-enforcement-action-reports-say\">SEC<\/a> also announced its readiness to sue Paxos.<\/p>\n<p>Changpeng Zhao pointed to the uncertainty and the gray area in the industry, urging active engagement with regulators.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMost regulators, at least, say they are open to dialogue, but I am not sure that all entrepreneurs have such access, especially when it comes to startups without a track record,\u201d said the Binance CEO.<\/p>\n<\/blockquote>\n<p>Zhao added that newcomers to the industry will certainly need legal counsel to \u201cnot cross any red lines\u201d laid down by regulators.<\/p>\n<p>Hayden Adams, founder of Uniswap, also joined in the criticism.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Embarrassing to watch the United States fumble the ball so hard on crypto<\/p>\n<p>The incentive for innovators and businesses is to go abroad<\/p>\n<p>It&apos;s like if 30 years ago the government saw the Internet and said &#8220;no, don\u2019t do that here&#8221;<\/p>\n<p>\u2014 hayden.eth \ud83e\udd84 (@haydenzadams) <a href=\"https:\/\/twitter.com\/haydenzadams\/status\/1625195994672467970?ref_src=twsrc%5Etfw\">February 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIt is embarrassing to watch the United States&apos; efforts in the crypto sphere. Innovative companies are given additional incentive to move abroad. It\u2019s like if 30 years ago the government saw the Internet and said \u2018no, don\u2019t let it develop here\u2019,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>Earlier in February, the SEC opened an <a href=\"https:\/\/u1f987.com\/en\/news\/sec-investigation-into-kraken-activity-reported\">investigation<\/a> into possible violations of securities laws by the cryptocurrency platform Kraken. As part of a settlement, the exchange agreed to shut down its <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a> program and pay <a href=\"https:\/\/u1f987.com\/en\/news\/kraken-to-pay-30-million-to-settle-sec-charges\">$30 million fine<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto entrepreneurs should consider moving to a country with favorable regulation of the bitcoin industry, says Binance CEO Changpeng Zhao.<\/p>\n","protected":false},"author":1,"featured_media":74091,"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":[744,935,1138,36,26],"class_list":["post-74090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-changpeng-zhao","tag-opinions","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74090","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=74090"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74090\/revisions"}],"predecessor-version":[{"id":74092,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74090\/revisions\/74092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74091"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}