🟠 Changpeng Zhao says crypto has entered new phase where ‘compliance is super important’

Former Binance CEO #ChangpengZhao said the crypto industry has entered the next phase where “compliance is super important.” Last year, #Zhao admitted guilt to federal #moneylaundering charges. Prosecutors spotlighted a corporate culture at Binance that neglected fraud prevention in pursuit of expansion, resulting in his departure from the company and a hefty $150 million fine. This sentencing arrives at a critical juncture for the emerging industry, which is witnessing intensified regulatory scrutiny worldwide.

#fomc #bitcoin