- Jul 27, 2015
- 5,458
- Content source
- https://www.bbc.com/news/technology-63624890
The head of the world's biggest cryptocurrency exchange has told global leaders new regulations are needed.
Binance chief Changpeng Zhao was speaking at a conference in Bali, Indonesia, attended by heads of the G20 group of nations. The company has also announced plans for a recovery fund to help struggling crypto businesses. It follows the bankruptcy of the FTX exchange, which shook the industry and wiped billions off the crypto market. The failure of the rival exchange, founded by Sam Bankman-Fried, has left many small investors with big losses.
Biggest crypto exchange Binance urges new industry rules
The boss of Binance tells the G20 the collapse of a rival exchange shows crypto needs regulations.
www.bbc.com