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🔥💥Binance Co-Founder He Yi: CZ's Legal Situation "Largely Peaceful"
#Binance co-founder He Yi addresses cz's legal situation, describing his status as largely peaceful..
Yi gives assurances about the Financial regulatory stance at the Token 2049 conference in Dubai.
Changpeng Zhao's legal settlement includes the seizure of a significant company worth $ 4.3 billion.
At a meeting in Dubai, Binance co-founder He Yi addressed the legal conditions of Changpeng Zhao, also known as CZ. Yi assured about the situation of the former CEO, as cz awaits sentencing in the United States. Despite the impending legal consequences, Yi described cz's position as “largely peaceful."” This update was shared during the Token2049 conference, an important event for cryptocurrency enthusiasts and industry professionals.
Yi's comments come after Cz accepted a plea that led to his resignation from Binance. The settlement also included a significant forfeiture of the company for a total of $4.3 billion.
Binance Co-Founder Discusses Regulatory Trust
Yi explored the broader implications on Binance's regulatory position. He highlighted the proactive approach that Binance needs to adapt in order to navigate the regulatory landscape smoothly. These efforts are evident from Binance's recent acquisition of a Virtual Asset Service Provider (VASP) license in Dubai. This license represents a very important step in consolidating Binance's commitment to comply with local regulations.
The acquisition of the VASP license is in line with significant transformations in Binance's organizational framework. Following Zhao's resignation, Richard Teng took over the reins as a harbinger of a new strategic trajectory for the company. Under Teng's management, Binance has undergone a restructuring process, including the establishment of a newly formed board of directors. These initiatives highlight Binance's commitment to strengthening its operational stability and adhering to regulatory compliance.
