Binance CEO Changpeng Zhao has rejected the recent Bloomberg report that the exchange was considering ending its relationship with US businesses due to regulatory pressure.
False Reports Discredited by Binance CEO
The Bloomberg report claimed that Binance was considering severing ties with its US business partners due to increasing regulatory pressure. However, the Binance CEO has denied these reports and called them "False." Zhao also stated that the exchange has only "Pulled back on some potential investments, or bids, on bankrupt companies in the US for now."
Increased Regulatory Scrutiny Facing Binance
Despite the denial, there is no denying the increased regulatory scrutiny Binance has been facing following investigations from regulators such as the SEC and the Justice Department. This scrutiny stems from a recent SEC probe into stablecoin issuer Paxos.
Binance Holdings Considerations
The initial Bloomberg report also stated that Binance Holdings was considering a potential retreat from business in the US, which could lead to delisting US-based stablecoins such as Circle's USD. However, these reports have been discredited by the Binance CEO.
