Binance CEO Plans to Step Down as the Exchange Faces Regulatory Pressure
CoinEdition
Published Jul 28, 2021 11:34AM ET
Updated Jul 28, 2021 12:00PM ET
Binance CEO Plans to Step Down as the Exchange Faces Regulatory Pressure
- CEO and founder of Binance said he is willing to step down.
- Binance cut non-KYC withdrawal limits as it faces regulatory pressure.
CEO and founder of the largest crypto exchange said he is willing to step down from leading Binance as CEO. This comes amid Binance facing more regulatory pressure.
According to Binance CEO known as CZ, he’s willing to step down from his role as the company seeks to become a regulated financial institution.
During a conference on Tuesday, CZ said he had no plans to quit his role but the firm does have a succession plan in place. While he didn’t give details of the plan, he said he would step down when they find a successor who can do a “better job.”
Binance CEO said,
We’re going to pivot to be a fully regulated financial institution going forward. During that pivot, I would be very open to finding a replacement CEO with more regulatory experience.
During the same day, Binance noted that it is shrinking no...
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Written By: CoinEdition
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