Binance CEO Changpeng Zhao (CZ) said it is better to regulate crypto than fight it.
Speaking at a Binance event in Athens, CZ made statements about the course of the crypto industry.
“It Is Better To Regulate The Crypto Industry”
Following the collapse of crypto exchange FTX, Binance CEO CZ spoke at an event in Athens, stating that regulating the emerging industry would be better than fighting it.
“I think most governments now understand that adoption happens no matter what. Better to regulate the industry rather than fight it.”
The regulation of cryptocurrencies has become a major topic of discussion in light of FTX filing for bankruptcy protection in the United States on Nov.
According to Reuters, an estimated one million creditors face losing billions of dollars. However, CZ is of the opinion that the crypto industry will recover from this devastating blow;
“(This year) has been a very bad year, a lot has happened in the last two months. I think we’re seeing the industry is healthier now… Having FTX doesn’t mean all other business is bad.”
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