The CEO of Finance is ready to resign if there is an alternative with regulatory experience

Recently, Accounting founder Zhang Peng Zhao expressed a desire to resign from the company if there was an alternative location that could function better. Zhao revealed this when Finance came under pressure from global regulators.

The Advertising This was done during a press conference on Tuesday 27 July. In a post on Twitter, CZ explained that the meeting with the media was “intended to share the active steps we are taking in an effort to further comply with local regulations everywhere.” One of them is the appointment of “a leader with experience of regulatory and legal compliance” to his leadership.

Speaking to Reuters, Zhao issued a statement resigning after a close scrutiny of finance by financial regulators accusing him of using the exchange for money laundering. Regulators are also concerned about the potential for fraud victims to be transferred.

Zhao’s alternative plans are not short-lived

However, on the same social network, the current transfer director denied that there were any plans to replace him in the short term, although he said “there is always a pool of successful candidates behind me” and “I always invite everyone to raise your hand to this job both inside and outside of accounting.”

Also, CZ said it Accounting Is ready to collaborate with regulators around the world to find an optimal way to define the field of fair action. It also makes it clear that the safety of its customers is important to the company.

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“We want to get licenses everywhere,” CZ said in this regard. “From now on, we will be a financial institution.” These changes will look for a framework that regulators can easily identify, and include the opening of a headquarters for finance, which has created controversy for the company in the past.

“We have a system that is relatively difficult for regulators to understand. Simple things like, for example, we do not have a headquarters,” he told reporters. “So now we are looking to establish multiple locations in different parts of the world. We do not yet have specific locations for all of them.”

Communication with controllers is not ideal»

The CEO of the transaction company acknowledged that in this context accounting relations with regulators in the past were “not ideal” and reiterated that the company’s plans include hiring former controllers. A few weeks ago, Zhao had already announced that the exchange would work to double its regulatory body by the end of this year.

Regarding his successor, Zhao made it clear that looking for a new CEO does not mean he will stop working for the project. “I will always contribute to the Accounting and BNP Ecosystem. I don’t have to be a CEO to do that. ”

Finance wants to make peace with the regulators

In recent weeks, financial officials from Japan, the United Kingdom, the Cayman Islands, Germany, Italy and Lithuania have expressed their concerns about the functioning of the exchange.

Some banks have chosen to block the transaction and / or its customers so that they cannot use their cards on that platform. Meanwhile, some transfer fee partners have decided to simply reduce their relationship with the company.

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In response to pressure from regulators, Finance chose to discontinue some of its cryptocurrency services, with the exchange suspending its operations in Ontario, Canada. It also canceled its stock token trading service and began lowering its leverage status limits.


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