Crypto firm Binance has been facing significant regulatory challenges for several months. However, the boss of the company sees positive trends shaping up to support the development of the crypto industry. This, with enhanced regulatory clarity.
Changpeng Zhao predicts a bright future for DeFi
Binance CEO Changpeng Zhao (CZ) spoke as part of the celebrations for the 6e platform anniversary. An opportunity for the manager to review the latest news from the crypto industry and its outlook.
About Crypto Market Outlook, Changpeng Zhao thinks they are mostly positive. Particularly for the segment of decentralized finance (DeFi) which he thinks will dethrone centralized finance (CeFi).
The Binance founder is very bold when it comes to his projections. He believes that this reversal should occur after the next six years of development of the sector.
Changpeng Zhao’s optimism is not trivial. As he explained himself, it builds on some of the landmark developments in the crypto industry. The first is, of course, the introduction by BlackRock of a Bitcoin ETF with the SEC.
For CZ, the foray into cryptos, from international financial giants like BlackRock, is a significant game changer. Because, while recognizing the usefulness and relevance of the blockchain, it should strengthen the institutional adoption of cryptos.
This will go, he explains, with a marked improvement in the current regulatory context. On this subject, the official thinks that the recent developments around XRP, recognized as not being a security, should change the situation.
For him, the recent decision regarding XRP is an example of tangible regulatory progress. “The July 13 XRP Decision, although it did not follow the conventional industry consultative process, serves as an illustration. Countries that effectively navigate this landscape will gain a substantial advantage over those that do not, for centuries to come. We stand at a historical crossroads”said CZ.
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