BlockBeats News, March 18th, Binance founder CZ stated during the DC Blockchain Summit:
「Recently, we have indeed seen a shift, with these (previously forced offshore) crypto entrepreneurs starting to return to the United States. The U.S. itself has a strong foundation in innovation, venture capital, Silicon Valley talent, New York Wall Street-style financial industry, and funding. The U.S. has these advantages.
I think today’s U.S. policy is actually very positive, even beyond my expectations. I did not expect the U.S. to become so crypto-friendly in two to three years. As for what the U.S. needs now, to put it more directly, it needs more competition.
I believe the U.S. is built on the idea of capitalism, which is a free market, free competition. I have talked to some quite important and influential smart people in the U.S., and competition is the best consumer protection, which is beneficial to the U.S.
If you look at the U.S. market from the perspective of a trading platform operator, I think the trading fees of U.S. platforms are too high right now. This basically means that the prices American consumers get are much worse than what they can get internationally. Because of this, I think the main liquidity is not in the U.S. Any traditional market, such as stocks, futures, all the liquidity is in the U.S. So the biggest liquidity pool is not in the U.S. now, which is a bit strange. This is what the U.S. is lacking.
In addition, in other industries, like the internet, look at Amazon. Amazon offers the best prices in the U.S., but in other parts of the world, the prices may not be so good. Only in the field of cryptocurrency, American consumers cannot get the best prices in the world. So I think this is a problem that can be easily solved. The U.S. has a large number of well-funded institutional investors, and we can easily become the world’s largest liquidity pool, especially in the current clear policy situation, this will happen sooner or later. But I think, right now, the U.S. indeed lacks a bit of market competition.」
BlockBeats previously reported that CZ had stated during an interview with Bloomberg at the World Liberty Financial Forum: 「Binance wants to do more business in the U.S., hoping to bring excellent products to the U.S. and make it easier for U.S. consumers to access these high-quality products.」
