2021 was a great year for crypto. It was marked by the growing popularity of digital assets, NFT, and Metaverse. Binance CEO Changpeng CZ Zhao has commented on the results of the past year and answered some questions regarding cryptocurrencies and the exchange.
Changpeng Zhao stated that 2021 was a great year for Binance. The platform managed to obtain an in-principal approval to operate as a crypto asset service provider in the Kingdom of Bahrain and sign the Memorandum of Understanding with the Dubai World Trade Centre Authority.
The exchange has launched a €100 million (£834,724) crypto and blockchain initiative to develop a French and European crypto ecosystem Objective Moon.
Wrapping up 2021, CZ addressed some of the questions concerning Binance and crypto in general in a YouTube video.
When asked about crypto fraud, CZ drew attention to the fact that the industry is just emerging, and urged people to conduct their own research before investing in crypto projects, ambcrypto.com reports.
Binance lists about 600-700 tokens out of 6 million, that is about 1 coin out of 10,000.
The team conducts a rigorous selection process and reviews a variety of indicators to determine whether the project is reliable and whether it can be hosted on the platform.
Decentralised finance is one of the main areas that has been enjoying the spotlight in the past year. Zhao spoke about the need to integrate crypto with the traditional financial industry to ensure money movement.
In 2021 Binance has made significant progress in crypto regulations, which are crucial for accelerating mass crypto adoption and providing people with an unhindered trading experience.
To develop, the industry has to bridge the gap between crypto and fiat, which can be achieved by integrating traditional financial systems, banks, payment services, and fiat ramps. Licensing is not the only way to make this happen.
The objective is challenging, but Binance is committed to its plan of creating a sustainable and fair playing field for people while maintaining partnerships with regulators and government agencies around the world.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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