CZ: Receiving Licenses is the Best Way to Debunk FUD

CZ argues that calling out FUD is a simple response.
Expanding Binance`s operations was made possible by obtaining Money Transmitter Licenses (MTLs) earlier in December.
Crypto-skepticism must be competitive.

When challenged with the industry’s glaring flaws, Changpeng Zhao argues that calling out FUD is a simple response. A tweet of his reveals this, in which he claims that gaining licenses is the most effective method of dispelling rumors and false information.

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Changpeng Zhao, CEO of Binance and the wealthiest person in the business, is one of the most vocal proponents of this approach.

Notably, on the fifth of December, Binance.US made the announcement that it has expanded its operations into two more areas of the United States. This was made possible by obtaining Money Transmitter Licenses (MTLs). It also included American Samoa and Guam in its scope of coverage.

Following the development, customers on islands across the Pacific may now register to buy, sell, trade, convert, and stake digital assets swiftly and securely on the Binance.US website or the iOS and Android applications thanks to the receipt of these MTLs.

Upon becoming operational in Louisiana earlier this year, Binance.US has now been granted its MTL there, increasing the total number of MTLs that have been obtained to 43.

It is crucial to remember that committed crypto investors have long had a ready response to people who criticize digital currencies: They’re spreading “FUD”. The idea behind it is that anyone who expresses skepticism of crypto must be doing so for competitive reasons.

However, the vast majority of this is nonsensical, but it may be the type of nonsensical information that crypto veterans could find beneficial. In general, detractors of digital currencies are neither advocating for competing tokens nor are they shorting Bitcoin.

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Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.