Changpeng Zhao Suggests Countries Change Course on Cryptocurrency
Date: 2025-04-25 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Changpeng Zhao, the former CEO of Binance, has once again made headlines when he spoke in Kuala Lumpur calling on world governments to reconsider their approaches to cryptocurrency regulation. During his visit, he met with Malaysian Prime Minister Anwar Ibrahim to discuss the potential of blockchain technology to transform the country’s financial sector.
Anwar, who is keen to modernize the country’s economy, expressed confidence in the need to abandon outdated financial structures and support innovation. His commitment to promoting crypto technology was echoed by Zhao, who stressed the importance of creating specialized regulators, such as Dubai’s VARA. He also cited the Central Bank of Bahrain as a positive example, calling it “progressive.”
Binance has previously faced problems in Malaysia, where the country’s Securities Commission accused the exchange of illegal activities in 2021. Despite this, Binance acquired a stake in local platform MX Global in 2022. The company recently held an event at the Ritz-Carlton, where Zhao spoke to the audience.
Zhao is convinced that the course towards cryptocurrencies taken by the United States under Donald Trump has become the impetus for global changes in regulatory policy. According to him, many countries are now forced to compete to retain talent and capital by offering more favorable conditions for the development of blockchain businesses.
“When a country like the United States shows openness to cryptocurrencies, other countries need to keep up to remain attractive to investors and innovators,” he said, emphasizing the importance of regulatory flexibility.
After serving four months in the US on charges of money laundering and sanctions evasion against Binance, Zhao was released in September 2024. The exchange paid a $4.3 billion fine and changed its management. Zhao has since decided to step away from operational management, focusing on educational initiatives and investments in promising areas - blockchain, artificial intelligence, and science. Despite this, he remains the largest shareholder of Binance and is on the list of the richest people in the world according to Bloomberg. As of the end of April 2025, his fortune is estimated at almost $30 billion.
