Amid the continuous regulatory scrutiny, Binance.US, the American arm of the world’s largest cryptocurrency exchange, has disclosed it is now contemplating cutting down founder Changpeng Zhao’s (CZ) majority stake in the company.
This move comes in response to regulators targeting the exchange. And according to the report, this latest move is in the favor of the company as it will remove any challenges regarding the obtaining of any future regulatory license.
Cutting Down Control
On Thursday, The Information reported that Binance.US executives have been in discussions with Zhao about reducing his stake in the company. The move is said to be aimed at addressing concerns over regulatory compliance and bolstering the exchange’s standing with US regulators.
Binance.US is currently in the process of seeking regulatory approval in the US to expand its offerings, but the company’s association with Zhao has raised questions about…
