It's been several months since the SEC has been trying to tighten the noose around the neck of the cryptocurrency exchange Binance.US (Binance's subsidiary company).
There is no question that the SEC is not going to allow a company run by a Chinese entrepreneur to gain a foothold in the U.S. So, it is obvious that it will do everything possible (whether it makes sense or not) to bring down and exile the exchange from the country.
Binance is the number 1 international exchange in the entire crypto industry. And even though the United States is the main country driving the world's economy, Binance still has the whole of Europe to dominate the global market. This is something that Changpeng Zhao, also known as "CZ" should keep in mind, but for some reason he wants to keep battling the U.S. SEC.
POINTLESS DEMANDS
The SEC's eternal rivalry against altcoins seems to have no end, it is very noticeable at first glance that it seeks to establish meaningless regulations to hinder adoption and generate fear in the crypto environment.
It is well known that cryptocurrencies are a great threat to the US dollar. The American government's anxiety of wanting to control everything and everyone prevents it from seeing crypto as a viable currency for the future, hence its enormous desire to destroy it and everything that goes with it.
On top of this, Binance, a Chinese-owned exchange, sets off national security alarms just because of its nationality. While it is true that the exchange has dodged certain regulations, it is a bit strange that most of the attention of the authorities is directed at Binance and not so much at its competitor Coinbase.
WOULD EVERYTHING WORK BETTER WITHOUT CEXs?
I honestly don't think so, the real crypto adoption is managed by a very small part of the population, and eliminating centralized exchanges, which are the ones that facilitate the use of cryptocurrencies in a more friendly way, could drastically reduce all that has been achieved in recent years.
For this reason, before a catastrophe happens between Binance.US and the SEC, I think CZ should leave the United States aside, and focus on the rest of the world, this way it would avoid many problems and would certainly remain the number 1.