Binance's Chief Executive & Co-Founder Changpeng Zhao (CZ) in an interview with Bloomberg said the exchange is seeing a real adoption of cryptocurrencies is happening as more users come in. Despite the regulatory tightening, CZ says "things are going pretty well."
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"Right now, we are definitely seeing more users come in, more adoption happening and more institutional participation," he said.
Binance's CEO also noted the exchange is focused on making smaller exchanges to succeed in the first place:
"Our position is usually we want to see other smaller exchanges to succeed first in any geographic location and then we will expand our services potentially to cover those regions as well."
He also emphasized the trading platform is always working on improving its blocking service as the exchange is not authorized to offer its services for users from the US. CZ admits the exchange has to come up "with a smarter way" to protect its business against regulatory pressure as "a few guys" are always trying to circumvent its blocking system.
"Basically, we do continually try to improve our blocking," he added.
Earlier in November, Binance increased blocking US users. The exchange announced plans to stop offering its services to residents in the country for the first time back in July 2019.
The platform is also suggesting to use Binance.US instead, which was founded specifically for US residents.
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