The founder of the world’s largest cryptocurrency exchange, Binance CEO Changpeng Zhao, has called for more regulatory clarity after a week of crypto market chaos and a year in which investors are estimated to have lost US$2 trillion (£1.7 trillion).
“We do need to increase the clarity of regulations and the sophistication of regulations in the crypto space,” Zhao said to a gathering of G20 leaders at a summit in Bali. But it is not only regulators that bear responsibility for protecting people, the industry should also look at new models that could help.
