Binance CEO Talks About The Latest Developments in BUSD and Cryptocurrencies!

US regulators BinanceNew to Paxos, issuer of stablecoin BUSD BUSD He ordered it to cease printing.

On top of that, he made a statement about BUSD. Binance CEO CZ now speaking at a Twitter AMA.

Answering questions about BUSD, CZ is more stablecoinHe said it was needed.

Chinese cryptocurrency journalist Wu Blockchain He shared CZ’s statements:

“Apart from the US dollar, Singapore dollar stablecoins, Japanese yen stablecoins, etc. More stable money is needed.

Currently, the Japanese yen stablecoin is already communicating with Binance.

After BUSD leaves, more USD stablecoins will emerge and Binance will collaborate with more USD stablecoins.”

Stating that the bear market and bankruptcies experienced in 2022 prompted the country’s regulators, CZ stated that the regulation became more stringent.

“After the collapse of LUNA in May 2022 and FTX in November 2022, regulations have become more stringent.

Many traditional banks have also avoided cooperating with cryptocurrencies and have become much more wary of crypto.

Binance has also lost some traditional banking partners in the short term.”

In addition to these disclosures, CZ NFTHe also stated that he did not have

Bloomberg’s CircleAnswering the questions about the news that BUSD complained to NYDFS, CZ said, “I don’t believe Circle would do that because they know doing it would hurt itself too.” said.

CZ said that after Luna and FTX, the regulation has become more stringent, and many traditional banks no longer cooperate with cryptocurrencies or are very careful. Binance has lost some traditional banking partners, which will hit the industry in the short term. Additionally, CZ… https://t.co/NZdO6ZDYjA

— Wu Blockchain (@WuBlockchain) February 14, 2023