Binance CEO Changpeng Zhao stated during an online event on Friday that Binance U.S. was “considering an IPO route.” Binance US Considering An IPO Despite Binance’s ongoing regulatory crackdown, Binance US, a cryptocurrency exchange based in the United States that operates independently, and is planning to go public. Changpeng Zhao, founder, and CEO of global exchange Binance spoke about the company’s present regulatory hurdles and future aspirations on Friday at Siam Commercial Bank of Thailand’s blockchain virtual summit REDeFiNE Tomorrow 2021. Zhao stated that the business was working with US regulators and building up “infrastructure” to make the IPO ambitions a reality. He continued, saying: “Binance US is considering an IPO. Most regulators are accustomed to a certain pattern, such as having a headquarters or a corporate structure. However, we are putting in place those mechanisms to make an IPO more likely.” It should be mentioned that Binance U.S. is not the same as Binance, the world’s largest cryptocurrency exchange. The Binance U.S. operates inside the regulatory environment of the United States, therefore it features distinct trading pairs and a much smaller trading volume than its worldwide equivalent. It remains to be seen if authorities would approve Binance U.S. for an IPO under such conditions. Taking a firm public is typically a compliance-heavy process. About Binance Binance US, which was launched in 2019, is a distinct business from Binance, licensing technology and getting branding assistance from the global exchange. Brian Brooks, the former acting comptroller of the United States Office of the Comptroller of the Currency, joined Binance US as CEO early this year to help the exchange compete with Coinbase and grow across the United States. Binance has lately been under greater attention from worldwide regulators, including the United States. As previously reported, the United States Department of Justice and the Internal Revenue Service are also looking into Binance for potential illicit trading activities involving US users. Supposedly, Binance was the focus of a Commodity Futures Trading Commission inquiry in March involving suspected trades by US clients.
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