Chanpen Zhao, the founder and former head of the Binance cryptocurrency, calls for governments of different countries to soften the position in relation to cryptocurrencies, writes RBC Crypto. This year, Zhao was appointed an adviser to cryptocurrencies in Pakistan and Kyrgyzstan, and now he came to Kuala Lumpur to discuss the development of cryptorrhist in the country with the Prime Minister of Malaysia Anvar Ibrahim.
Anvar wants to transform the financial sector of Malaysia using blockchain and cryptocurrencies, journalists note. The country “must abandon outdated business models and an outdated financial system,” said the Prime Minister after meeting with ZHAO and representatives of Abu Dhabi in January.
Binance has a difficult story in the region: in July 2021, the Malaysi Securities Commission reprimanded Binance and Zhao for the illegal activity of the crypto -country in the country. The following year, Binance acquired a minority stake in the Malaysian MX Global Exchange. On April 22, this platform held an event with the participation of Zhao at the Ritz-Carlton Hotel in Kuala Lumpur.
At the speech, Zhao said that he always calls on the governments to apply a milder approach to regulating digital assets and offers to create separate regulatory authorities, cosing an example to regulate Dubai virtual assets (Vara). The Central Bank of Bahrain, according to him, is another “progressive” regulator.
Zhao believes that the U.S. President Donald Trump’s administration led to the “180-degree shift” in the thinking of regulators around the world, prompting other governments to be more progressive in their approach to digital assets.
“Since the United States is now so actively supporting cryptocurrency, all other governments actually have to be a little more competitive to hold talented specialists, attract funds and investments. Therefore, I urge the majority of governments to be a little more progressive than the USA, ”he said.
In September 2024, Zhao left the American prison, having left four months after the trial with the US Ministry of Justice. Binance was accused of laundering money and violation of sanctions.
By court decision, the exchange paid a fine of $ 4.3 billion and changed the general director. After leaving prison, Zhao said that he did not intend to return to managerial work, but focuses on education and investments in projects related to blockchain, artificial intelligence and science.
Zhao remained a majority shareholder of Binance, although it is not formally listed in the Council of Directors. It takes 57th place in the list of billionaires Bloomberg. According to April 24, the capital of a 48-year-old Canadian of Chinese origin is estimated at $ 29.9 billion.
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Source: Cryptocurrency
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