$USDT
StableSnapshot Window: 2026-07-07 15:00 UTC · ← Back to Crypto Overview
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Binance founder @cz_binance talks about Binance's regulatory scars and comebacks. [Spoken audio]: harmoniously all around the world and get licenses all around the world and but it's not a smooth process in many countries we have faced challenges before for example in Japan Japan gave minus a warning as early as 2018 and then now there were multiple other warnings issues negotiations etc but you know by 2022 we got a nod from JFSA the regulator in Japan to go back to Japan. We were actually invited to go back indirectly. So by early 2023, Binance acquired a full Japanese license. So now Binance Japan is fully operating there. And also Softback Japan is a major shareholder in Binance Japan as well. So now we're fully operating there. Singapore, we went through a difficult period as well. And end of 2021, we had to withdraw from Singapore, well, Binance said to withdraw from Singapore, and then most of the users went to FTX, who were invested by Tomasic, the Singapore Solomon Wells Fund, and then we know how that ended. So it actually hurt quite a lot of users. And there are many other countries where we initially face challenges, and we can overcome that over time. So hopefully this is another situation that we will overcome, hopefully over time. But challenges happen, politics do come into play, Binance is the largest player. I think overall, the current situation, sadly, is a loss for Binance. It's also a loss for Europe. It's a lose-to-lose situation. Binance is definitely one of the most scrutinized exchanges. It's also one of the most compliant, actually. So yeah, so I think it's a loss for Europe as well. We hope to be able to fix that situation soon. Yeah, and your competitors are working very hard to attract those users as well with big signing bonuses and. Yeah, it's okay. I think that is fair business competition. Look, if you want to offer users more incentives, be my guest, go ahead. I don't run Binance anymore, but as a shareholder, I think Binance should offer much more incentive for users outside of Europe, right? So that's business competition. Offer your users as much rewards, as much benefit as you can. I think that's fair.
