The push by Binance, the world’s largest exchange by trading volume, to expand its influence has continued to gain increased momentum in Turkey.
The exchange’s Chief Executive Officer, Changpeng Zhao, known on Twitter as ‘CZ’, met with Turkish officials where he discussed issues bothering the crypto ecosystem.
“We had a virtual meeting with Mr. Changpeng Zhao, the founder of Binance. Mr. @cz_binance and I had discussions on the blockchain ecosystem and crypto assets,” said Dr.Nureddin NEBATİ, Turkey’s Minister of Treasury and Finance, one of the key officials that were a part of the meeting.
Although the details of the conversation are not known, crypto Twitter speculates that there might be something more between the trading platform (and the Turkish government).
Binance was criticized for illegally operating in quite a few jurisdictions over a year ago. It decided to pursue a better relationship with regulators, despite having its license suspended. Its commitment to closing the loopholes in its interactions with regulators has won it the admiration of regulators for the last year.
CZ has visited several government officials in France, Dubai and Kazakhstan as part of his global campaign for regulators to give their approval. CZ’s meeting with Kazakhstan’s officials also involved signing a Memorandum of Understanding (MoU) with the country’s President, Kassym-Jomart Tokayev, as the parties looked to foster digital education and transformation in the country.
Binance’s efforts have produced operational licenses in key regions, including Spain, Bahrain, the United Arab Emirates (UAE), and Italy amongst others. Binance reiterated its commitment to ensure that governments around the globe introduce functional regulators that can foster the growth of the entire industry.
Another way the trading platform is leading the industry is through the meeting with the Turkish Minister.
Image source: Shutterstock