The worldwide regulatory pressure is no longer a secret, and the matter has been generating a lot of noise in the crypto industry.
Check out some intriguing perspectives on all of this from the CEO of crypto exchange Binance.
Changpeng Zhao’s opinions on the subject were reported by CoinDesk, and you can read more about them below.
CZ appears to have compared current regulatory challenges on his exchange firm to the early stages of automotive development.
More regulations are positive signs, CZ believes
In an open letter published on Wednesday, he stated that the acceptance and growth of crypto have many parallels to automobile rules in that “laws and guidelines were formed along the way.”
“We are seeing broader acceptance of cryptocurrencies globally, as well as a need for clearer regulatory frameworks in various countries,” CZ added.
He went on to say, “More regulations are, in fact, great indications.”
According to CoinDesk, he stated, “Compliance is a journey — especially in new sectors like crypto.”
He also mentioned that the crypto sector was fraught with uncertainty. “We also know that when a company grows, so does its complexity and responsibility.”
The crypto space has been developing and rising at the speed of light, particularly in 2020 and 2021, when the globe was experiencing one of its worst crises in history.
The fact that the crypto ecosystem is developing and becoming more powerful throughout such global disasters demonstrates the strength and force that cryptos possess.
Bitcoin is seeing a stable development
According to the data published by CoinGhecko, the BTC has enjoyed a consistent development and has attracted investment firms.
Long-term holders, on the other hand, are not selling their BTCs, indicating that the Bitcoin market is in a bull market, in which there is optimism and the price of the BTC is stable or slowly rising.