He Yi: Respect for regulatory agencies is the trend, and regulatory compliance is the way forward

ChainCatcher news, Binance co-founder He Yi recently gave an exclusive interview to Bloomberg in Dubai, during which she attempted to convey two key messages: first, the differences between Binance and regulators may not be as significant as perceived; second, the company is far from being the "bad actor" that critics claim.

She said, "If they really took the time to understand our industry, they would find that if Binance is non-compliant, then almost no other global trading platform or offshore company is compliant." Binance claims it has no formal headquarters, which theoretically makes it harder to sue and regulate.

Regarding the SEC and the recent series of regulatory actions against Binance by market regulators around the world, she stated, "We respect the stance of regulators, whether they support or oppose the development of cryptocurrencies. I understand that the overall intention of regulation is good in order to protect investors. The global regulatory trend is inevitable, and this is not something that can be resolved by just shouting a few slogans."

In He Yi's view, Binance provides more transparency than critics claim and has been cooperating with U.S. regulators. Unlike the allegations against FTX, Binance has not used user funds for its own purposes, nor has it used its BNB as collateral for loans.

When asked whether she and Zhao Changpeng had considered what would happen to Binance without them, He Yi replied, "Both Zhao Changpeng and I have backup executives in training, and I am temporarily refusing to disclose their names. I think we will be fine."

Bloomberg noted that the relationship between He Yi and Zhao Changpeng easily evokes comparisons to FTX's Caroline and SBF, but He Yi firmly denied this: "Caroline is an employee, while I am a partner. The relationship between co-founders requires more than just a dating relationship. The co-founder relationship is about camaraderie or brotherhood, while a dating relationship is about chemistry. The former is based on shared beliefs and transcends gender, while the latter is based on physical attraction and selfish desires."

He Yi also added that her status as a cryptocurrency pioneer predates Zhao Changpeng's, "Even without considering personal relationships, I was the one who introduced Zhao Changpeng to the cryptocurrency trading business, and Zhao Changpeng brought me to Binance based on the achievements I had already made." (Source link)