Changpeng Zhao Denies Delisting all U.S. Based Cryptocurrencies

Binance head Changpeng Zhao stated that no US-based token is being delisted.
Bloomberg claimed that Binance was looking into severing ties with U.S. partners following a regulatory crackdown.
Earlier this week, Paxos halted the issuance of BUSD following the SEC’s warning of a lawsuit.

Changpeng Zhao, also known as C.Z., is the Chief Executive Officer (CEO) of Binance. He has recently denied a claim by Bloomberg that Binance, the largest cryptocurrency exchange platform, will remove all U.S.-based cryptocurrencies from its list.

According to a report published by Bloomberg on the 17th of February, Binance was mulling over whether or not to delist American business partners. This new conflict may be traced back to the interaction between Binance and the government in the United States.

In addition, the report stated that the platform would remove stablecoins such as Circle Dollar Coin (USDC) and mentioned that the company was reassessing its venture capital investments in the United States.

Nevertheless, C.Z. noted in another tweet that “we have pushed back on several possible investments or bids for insolvent firms in the U.S. for the time being.” First, get permission.

This comes when the crypto exchange firm faces numerous charges by the Securities and Exchange Commission (SEC). On Monday of this week, U.S. regulators told the cryptocurrency company to stop making the stablecoin Binance USD (BUSD), which was created in partnership with Paxos Trust Company. However, the massive crypto exchange platform is now embroiled in a legal battle with the SEC and the Justice Department.

Since the collapse of FTX, in which the CEO Sam Bankman (SBF) Fried used customer funds, U.S. regulators have been at the forefront of efforts to regulate and investigate cryptocurrency firms so that such incidents will not happen again.

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Munene Kelvin

Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.