Changpeng Zhao plans to go public with Binance US in three years and to become even more independent as we can see in our latest Binance news.
Binance’s affiliate United States-based crypto exchange Binance US is eyeing an initial public offering n 2024 according to the founder of the exchange. Changpeng Zhao plans to go public with the exchange in three years after closing large private funding round in the next two months that will allow the exchange to become independent from the global exchange. Zhao believes that the global exchange will survive the ongoing regulatory crackdown by global regulators and that the exchange will go towards a public listing in three years:
“Binance.US is just going to do what Coinbase did.”
The news came amid the global regulators raising concerns about Binance’s operations with the Monetary Authority of Singapore adding the exchange’s website to the investor alert list and the list provides a record of unregulated people that could have wrongly perceived it as licensed o regulated. According to the local reports, Binance Asia Services as the Singapore-based unit of Binance operates as a separate entity and doesn’t offer any services via Binance’s website, and runs a different platform dubbed Binance. sg. The MAS said that it was planning to review BAS’ application for a license under the Payment Services Act and it previously applied to operate in Singapore under the actin 2020.
Binance has been under increased scrutiny from the global regulators in recent months with a few warnings being issued by the authorities in countries like United Kingdom, United States, Japan, Italy, and Canada. The exchange also stressed that it is committed to cooperating with regulators a few times.
As recently reported, In reference to the biggest crypto exchange, as the UK financial regulator stated that based upon teh company’s engagement to date, the FCA considers that the company is not capable of being effectively supervised. Reuters reported that the regulator is very worried about the exchange’s global reach and range of products which is considered as a major risk. The FCA prohibited the exchange from conducting more activity in the UK and imposed a few requirements on the platform. One Binance spokesperson said that Binance Markets Limited fully complied with the regulator’s requirements and it still continues to engage with the FCA
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