Binance CEO, Changpeng Zhao, might step down as the head of the cryptocurrency exchange as soon as he finds a successor who can do a "better job," Reuters reports. He also said that Binance would seek regulators' approval as the exchange wants to establish regional headquarters all around the globe.
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"I am a technology entrepreneur. We are doing this pivot to be a regulated financial institution and I would be very open to look for a leader with strong regulatory background," he said.
Zhao's comments come as financial watchdogs are paying closer attention to the cryptocurrency exchange. Earlier, Binance drew scrutiny from regulators around the world over unauthorized activity of affiliated companies. As of press time, watchdogs of the United Kingdom, Hong Kong, Poland, Malta, Italy, Cayman Islands and Singapore issued warnings against the exchange and affiliated companies.
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