Binance Founder Changpeng Zhao (CZ): "Offshore" is a narrow, self-centered term

Due to the tightening regulations on the cryptocurrency industry by the United States, many compliant operators have started to voice their complaints. Recently, Jesse Powell, the founder of Kraken, who was fined $30 million for operating an unregistered futures business, took to Twitter to express that they have previously raised concerns and reported illicit activities to U.S. regulators, but to no avail. U.S. regulators often claim, "They are offshore platforms, this is a complicated situation." Jesse Powell implies that offshore platforms seem to get away with it, while U.S.-based operators are the ones facing oppression.

Zhao Changpeng Responds: "Offshore" is a Narrow Term

Regarding Kraken founder Jesse Powell's use of the term "offshore," Binance founder Zhao Changpeng CZ responded: "Offshore is a narrow, self-centered term that overlooks a broader perspective and is not helpful for our industry."

CZ believes that Binance US is an onshore platform.

Even if FTX and its senior executives are Americans who continuously lobby the US government, it does not help in exposing scams.

He thinks that distinguishing between onshore and offshore is a self-centered and arrogant behavior, as everyone has a subjective perspective of "onshore," and the notion of "we are better than others" is not a remedy for improving the industry.

CZ believes that embracing diversity and openness will lead to better results. Blockchain knows no borders.

Although CZ and Jesse Powell have some differences in opinion, it highlights the challenges faced by local compliant platforms in dealing with the differential treatment of overseas platform regulations. At the same time, international platforms attempting to comply with regulations also face many discriminations and difficulties in the absence of a clear regulatory framework.