#Binance founder upgrade#

IMF Blog: Interest Rates to Fall to Pre-Pandemic Levels Once Inflation Is Tamedīitcoin Miner Bitdeer Technologies to List on Nasdaq via SPAC DealĬhina Fines Bitmain $3. Binance founder Changpeng 'CZ' Zhao has touted the exchanges know-your-customer systems, known as KYC, as a billion-dollar effort.

#Binance founder upgrade#

We don’t go to countries where we won’t have a sustainable business - or any business, regardless of whether or not we go.īrazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve CurrencyĮthereum’s Shapella Upgrade Unlocks Staked Ether, Over 860K ETH Poised for Withdrawal, Price Surges 6%īiggest Movers: DOGE Snaps Losing Streak as SOL Hits Fresh 6-Week HighįTX Finds $7.3 Billion in Liquid Assets Lawyers Consider Rebooting Shuttered Crypto Exchangeīitcoin, Ethereum Technical Analysis: ETH Hits $2,000 Following Shapella Upgradeīalaji Srinivasan: ‘Giant Robot’ of Crypto-Friendly States Needed to Battle ‘Giant Monster’ of US Gov., Explains Why He Made Bitcoin Betĭespite Using Euro, Montenegro to Develop Own Digital Currency With Ripple “We are trying to get this message across, but tax policies typically take a long time to change,” Zhao cautioned, adding:īinance goes to countries where regulations are pro-crypto and pro-business. Changpeng Zhao, who goes by CZ, is the founder and CEO of Binance, the largest cryptocurrency exchange in the world. We are in conversation with a number of industry associations and influential people and trying to put some logic there,” CZ continued. So we don’t see a viable business in India today. There is not going to be any volume for an order book type of exchange. In addition to taxing crypto income at 30%, crypto transactions are subject to a 1% tax deduction at the source (TDS).Ĭiting India’s aggressive tax environment, the Binance CEO said: “If you are going to tax 1% on each transaction, there is not going to be that many transactions.”Ī user could trade 50 times a day and they will lose like 70% of their money. Zhao is particularly discouraged by the crypto tax regime that the government of India implemented earlier this year.

To be honest, I don’t think India is a very crypto-friendly environment.

He detailed at a Techcrunch Crypto conference Thursday: The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), does not currently see India as a viable country to expand his crypto exchange operations. Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in the world in terms of daily trading volume of cryptocurrencies. The owner of the largest crypto exchange Binance, Changpeng Zhao scored the 11th spot in the hall of the world’s richest people, according to a January 9th report by Bloomberg. Binance was founded by its CEO Changpeng Zhao, a Chinese-Canadian developer commonly referred to as CZ who had previously created high frequency trading software. The executive explained: “Binance goes to countries where regulations are pro-crypto and pro-business.” Binance’s CEO on Indian Crypto Environment With a net worth of 96B, the CEO of Binance Changpeng Zhao is close to entering the top 10 of the world’s richest. Binance CEO Changpeng Zhao (CZ) says India is currently not a viable business environment for his cryptocurrency exchange, citing a strict tax regime.