Move to Dubai, Bahrain, or France to start a business in the crypto industry!
The CEO of Binance, Changpeng Zhao, suggested that cryptocurrency entrepreneurs might need to relocate to a nation that is more supportive of cryptocurrencies and digital assets in light of what appears to be a growing crackdown by U.S. regulators on the industry. Moving to a new country “may not be a bad thing if you’re serious about your project,” he said in a Twitter Spaces talk, citing Dubai, Bahrain, and France as examples of places with more hospitable regulations. The comments follow the New York Treasury Department’s decision to block Binance partner Paxos from issuing the BUSD stablecoin.
Last week, the Securities and Exchange Commission ordered the Kraken exchange to stop offering staking services. The CEO of Binance acknowledged the industry’s current state of “grayness” and uncertainty and suggested proactive communication with regulators. “Most regulators at least say they welcome people to talk to them, but I’m not sure how much access they actually grant to people, especially entrepreneurs and new projects without a reputation,” he said, adding that large companies like Binance do have access.
Source: www.Pipsafe.com – Move to Dubai, Bahrain, or France to start a business in the crypto industry!
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