Binance looks to the UK for regulation amid US crypto crackdown
Binance seeks regulation in the U.K. amid a U.S. crackdown on cryptocurrencies as its chief strategy officer acknowledges the challenging business environment in the United States. Crypto exchange Binance has acknowledged that a crackdown on cryptocurrencies has made conducting business in the United States challenging. It is now looking to be regulated in the United Kingdom. During the Financial Times’ Crypto and Digital Assets Summit, Patrick Hillmann, Binance’s chief strategy officer, said that the past six months have been quite confusing in the United States. He added that the recent actions taken by the U.S. Securities and Exchange Commission (SEC) against rival exchange Coinbase for allegedly violating securities laws are an indication of how “the U.S. right now is in this strange place.“ While Hillmann acknowledged the “very confusing” environment in the U.S., he expressed the company’s commitment to doing “everything we possibly can” to be regulated in the United Kingdom. Thi...