world’s largest cryptocurrency stock market Binance CEO CZ He continues his statements about the crypto money sector.
Finally, CZ shared on Twitter, Bitcoin (BTC) and made statements about cryptocurrency regulations.
Citing an IMF News article by Bo Li and Nobuyasu Sugimoto, CZ said that this article is a good approach to crypto regulations.
BTC and cryptocurrencyPointing out that there is a need for regulatory clarity on the issues as soon as possible, CZ said:
“The IMF News article by Bo Li and Nobuyasu Sugimoto is a good approach to crypto regulation.
Stronger financial regulation and supervision and evolving global standards can help address many of the concerns associated with crypto assets.
Regulatory clarity is needed as soon as possible.”
“Banning Bitcoin Is Not The Solution!”
Stating that the best way of user protection is global, consistent and risk-based regulations, CZ stated that it is wrong to ban cryptocurrencies directly.
CZ, who made inferences from the article, cryptocurrency He summarized the necessity of the regulation in four articles and made the following points:
“1) Our industry needs robust, comprehensive, and globally consistent crypto regulation in keeping with its cross-border nature. For a global approach to work, it must adapt to the changing industry environment.
2) Crypto asset service providers must be licensed, registered and authorized. Licensing and authorization criteria should be well defined.
3) Organizations performing multiple functions should be subject to additional regulatory, transparency and/or disclosure requirements.
4) Stablecoins are an important tool for store of value among many use cases and should be regulated to exploit their potential and ensure market integrity.”
Finally, addressing the regulators, Binance CEO said that user protection and market integrity are increasing as regulators expand the scope of permitted activities.
“User protection and market integrity increase as legislators and regulators expand the scope of permitted activities.
We’ve seen this in many other industries: commerce, healthcare, pharmaceuticals, internet, content, etc.”
Good approach to crypto regulations by Bo Li & Nobuyasu Sugimoto at @IMFNews.
“Stronger financial regulation & supervision, & developing global standards, can help address many concerns about crypto assets.”
Regulatory clarity is needed ASAP. Thoughts🧵 https://t.co/BBVqxDcq86
— CZ 🔶 Binance (@cz_binance) January 24, 2023
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