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Binance CEO Changpeng Zhao Counters Allegations Of Regulation Evasion Scheme
Summary: Binance CEO Changpeng Zhao has denied a Forbes report alleging Binance has developed an elaborate corporate structure to evade regulators and profit from investors in the United States. Forbes' report is based on a document created by Binance executives and acquired by the editorial staff. The 2018 document outlines plans for an un-named US company ...
Binance CEO Changpeng Zhao has denied a Forbes report alleging Binance has developed an elaborate corporate structure to evade regulators and profit from investors in the United States.
Forbes' report is based on a document created by Binance executives and acquired by the editorial staff. The 2018 document outlines plans for an un-named US company referred to as "Tai Chi entity" to set up in the United States to distract regulators while measures would be put in place to move revenue in the form of licensing fees and more to the parent company, Binance.
Zhao quickly took to Twitter to combat the accusations in the Forbes piece stating that the accusations are incorrect. He argued that the "Tai Chi" document was produced by a third party and not by a current or former Binance employee, adding that anyone can create a strategy document but that does not mean the company is following it.
By Emily Mason
Tags: Binance,Changpeng Zhao,Regulation
Link: Binance CEO Changpeng Zhao Counters Allegations Of Regulation Evasion Scheme [Copy]
