Changpeng Zhao; Binance’s Chief Executive Officer says: “Binance U.S. may go public to and Initial Public Offering.
According to shetcoiner and quoted from Cryptobriefing: Changpeng Zhao; Binance’s CEO, was speaking about an IPO of Binance U.S. in America in an online event at Friday.
Binance CEO and founder Changpeng Zhao spoke about the initial public offering of Binance U.S. stock despite numerous Monitoring and regulatory issues at Friday. These CZ’s statements were raised when he was talking in the Siam Commercial Bank of Thailand online event and revealed this news.
Zhao also said that this company is working with the Regulatory institution in United States and making “structures” for this exchange Initial Public Offering. He added:
“Binance U.S is looking at the IPO route. Most regulators are familiar with a certain pattern, or having headquarters, having corporate structure. But we are setting up those structures to make it easier for an IPO to happen.”
It should be noted that Binance U.S. is different from Binance website. Binance U.S. operates under U.S. regulatory law and has a separate office in Binance in the United States. Apart from Binance, this exchange also has different currency pairs and has a significantly lower trading volume than its international counterpart.
Binance U.S. was Founded in 2019 and is operated by BAM Trading Services. Binance U.S’s headquarter is in San Francisco.
The exchange is FinCEN compliant, having registered as a money transmitting business in various U.S. states.
The news of the IPO of Binance is coming at a time when the international exchange office is under pressure from regulators around the world and is in trouble. Regulators in Japan, Singapore and Italy have claimed that Binance can’t provide services in those countries that are not registered in them.
Binance also halted “tokenized stocks” last week to ease regulatory pressure around the world. tokenized stocks allow Binance users to have a CFD (Contract for Differences) on the stocks of companies such as Tesla, Apple or Microsoft and to make a profit or invest in them by buying and selling stock tokens.
Although Binance U.S. has complied with these laws, there have been reports from United States law enforcement agencies investigating non-compliance with Binance tax and anti-money laundering regulations.
In such a situation, we need to see that will regulators will accept Binance U.S. IPO or not. Because the process of generalization and IPO of companies are usually heavy in terms of compliance with the rules.
