![\"Crypto](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/07\/SKzAUBjN-binance.jpg\")
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Binance CEO Changpeng Zhao (CZ) says that his company wants \u201cto be licensed everywhere\u201d and \u201cFrom now on, we\u2019re going to be a financial institution.\u201d Following warnings by a growing list of regulators worldwide, Zhao also revealed that Binance is seeking \u201ca strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization.\u201d<\/strong><\/p>\n Binance founder and CEO Changpeng Zhao (CZ) has addressed recent compliance issues his exchange has been facing and reports of the exchange hiring a new chief executive.<\/p>\n Governments and financial watchdogs are paying closer attention to the cryptocurrency space. A growing number of regulators worldwide have warned Binance about operating in their countries without being properly authorized. They include regulators in Japan, the U.K.<\/a>, Cayman Islands<\/a>, Hong Kong<\/a>, Thailand<\/a>, Germany<\/a>, and Lithuania<\/a>.<\/p>\n Commenting on regulatory scrutiny, Zhao told journalists that he wanted to improve relations with regulators. He added that Binance would seek their approval and establish regional headquarters, breaking with its decentralized structure. He was quoted as saying:<\/p>\n We want to be licensed everywhere \u2026 From now on, we\u2019re going to be a financial institution.<\/p>\n<\/blockquote>\n Responding to reports that he would be willing to step down whenever he finds a successor who can do a \u201cbetter job,\u201d Zhao explained via Twitter that Binance\u2019s \u201cCEO contingency planning starts in day 0, same as any other role.\u201d<\/p>\n He further opined: \u201cI feel CEOs should not stay for more than 10 years, ideally around 5 years. We live in a dynamic world. We need new thinking. Presidents only serve for 4 years. We are always hiring for CEOs.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n While emphasizing, \u201cThere are no immediate plans to replace me as CEO,\u201d he said: \u201cI don\u2019t need to be CEO, and I am not leaving. I will always find ways to contribute to the community behind the logo tattooed to my forearm.\u201d Zhao additionally detailed:<\/p>\n I\/we would very much like to hire a strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization.<\/p>\n<\/blockquote>\nBinance\u2019s CEO Unveils Company\u2019s Regulatory Compliance Plans<\/h2>\n
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