Binance CEO believes the exchange will resume crypto to fiat operations within the next two months

The CEO of major cryptocurrency exchange Binance, Changpeng Zhao, has predicted that Binance will resume crypto-to-fiat operations in the United States within the next two months.

Speaking to online news outlet Cheddar the CEO said “I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”.

It was in June that the exchange announced that they would be restricting services in America as it worked to open a new division to operate within the Financial Crimes Enforcement Network guidelines. In regards to the future of the exchange and regulation he went on to comment: 

“I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market […] in a large market it is harder to regulate.”

This is a very interesting step after recently Binance suffered a security issue when a Litecoin dusting attack affected 300 thousand users. Then on 7th August KYC details were hacked in another embarrassing event. Nevertheless, Zhao sounded very positive and optimistic about the future and thinks the future of finance still lies with cryptocurrencies.