CZ on Recreating 2017 to Build a Global Crypto Platform: US Users Shouldn't Touch It, Futures and Other Financial Products to Launch Sooner

BlockBeats News, August 30th. CZ made an appearance on the Meanders podcast, discussing his resilience, adaptability, and lifelong drive in the crypto industry. When talking about how he would redo a global cryptocurrency exchange if he could go back to 2017, CZ mentioned that the first principle would be not to touch U.S. users. Their definition of a centralized financial platform is: if you have U.S. users, you need to comply with U.S. regulations and obtain a license in the U.S. The U.S. doesn't enforce this 100% across the board, but they have the right and ability to do so.

Furthermore, smart contracts might be implemented earlier. Even some other financial products might be developed sooner, with a broader coverage of financial products. Communication with regulators might be more proactive. Currently, Binance is the cryptocurrency exchange that communicates with regulators the most, but the coverage is still somewhat insufficient. And if you really want to do this, the cost is very high. It's not just a matter of money; you need to hire the right people, spend a lot of time, and invest much effort in managing this.