Binance CEO Changpeng Zhao has said that cryptocurrency entrepreneurs should consider moving to a country with favorable regulation of the Bitcoin industry.
According to him, Dubai, Bahrain and France are such jurisdictions.
He has added:
“If you are serious about your project, moving to a new country might not be a bad thing.”
His words come against the backdrop of tightening regulation of the industry by the US authorities. In particular, we are talking about the investigation launched by the Department of Financial Services of the State of New York against the infrastructure company Paxos.
Changpeng Zhao has pointed to the uncertainty and grayness prevailing in the industry, suggesting to actively interact with regulatory authorities.
