Binance will not open branch offices in countries without cryptocurrency regulation

The Binance Cryptocurrency Exchange is not yet planning to enter the South Korean market and other countries that have not decided on the legislative regulation of the digital asset market. This was announced by the CEO of Changphen Zhao at a conference in Seoul, Coindesk Korea writes.

Zhao stressed that they are ready to cooperate with jurisdictions that have established strict regulatory requirements for the cryptographic market if the authorities of the country are interested in distributing blockchain technology.

“Binance prefers countries with well-defined regulation. I do not want to get into a situation where all the activities of regulators is reduced to talking. If we can open a bank account suitable for making transactions on a crypto-exchange , we can immediately consider opening the platform, ”said Changpeng Zhao.

According to the CEO Binance, the growing competition in the industry will in one way or another entail the interest of governments in cryptocurrencies.

“We cannot predict exactly when banks or authorities will change their attitude. But now changes are taking place not only in Asia, but also in Europe, Africa and the USA, ” he added.

Recall that the launch of the main network of the decentralized exchange Binance DEX should be held before the end of April . Also this month, the launch of a crypto-fiat platform Binance Singapore is scheduled.

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