Binance CEO: Security is the Easiest Things For Exchanges
Binance’s CEO Changpeng Zhao has recently given an interview to Bloxlive TV at Delta Summit. Zhao has spoken about the difficulties when running a cryptocurrency exchange, as he also offered his thoughts about regulatory issues across the crypto industry.
Zhao said they need to make everything working in order to be successful as he said:
“So security is the most basic thing. And then you wanna have a really good product, and then you want to run everything properly.”
Zhao then continued with the regulatory issues that they have faced so far. As we already know, Binance recently moved its headquarters to Malta, a country known with friendly cryptocurrency atmosphere, compared to other parts of the world. Zhao said it is a concern for every participant that lots of manipulators and fraudsters in this space, as he said:
“People try to do fraud. The projects performing badly want to list on the exchange. There’s a lot of different stuff… A cryptocurrency exchange is probably one of the hardest businesses on the planet.”
Zhao said as a Binance, they are currently running the most solid exchange on earth and he also recommends people wants to enter this sector that they need to make everything right in order to be successful. He said:
“We run one of the most ethical and solid exchanges in the space and that’s kind of recognized by people so we’ll continue to do to do that.”
The CEO then went onto say why that choose Malta as a new home as he added:
Malta is an easy option for us to work with, really. The country has all the tools for cryptocurrency firms who wants to be succesfull like us. They have a very forward thinking regulations and so far, it is all very good for us. We are in a very good place.
Earlier this month, MSX PLC, the subsidiary of Malta Stock exchange, signed a memorandum of understanding with the Binance exchange. Through this joint venture, the companies plan to launch a new security token digital exchange.
According to CZ, Malta has become the “global hub” for blockchain technology. Binance’s intention to grow its roots in Malta surfaced first at the end of March when the company announced the opening of a new office there.