- Patrick Hillmann criticizes confusing regulatory rules
- But believes it won’t always stay that way
- The exchange is banking on British oversight for now
Binance chief strategist Patrick Hillmann criticized the US regulatory framework at the Financial Times Summit on Cryptocurrencies and Digital Assets.
He believes that doing business in the country has become difficult. And hopes the U.K. will implement loyal rules for the cryptocurrency sector.
Patrick Hillmann is disappointed that the U.S. has introduced extremely confusing regulatory rules in the past six months.
A vivid example is the conflict between the SEC and the cryptocurrency exchange Coinbase. It shows that there is no clarity on the issue of regulation in the States.
Businessman added that Binance will help as much as possible with regulation in the UK.
However, they have previously had conflicts with local agencies for failing to provide important information about their operations.
Despite frustration with the current situation, Hillmann believes that states will not behave aggressively toward the stock market and the crypto industry.
The time will come, he said, when the U.S. will overtake Europe in terms of regulation and make a big step forward.
Binance has repeatedly been the subject of lawsuits in the U.S.. Last month, the CFTC accused the company of derivatives trading violations.
The agency stressed that the exchange must comply with U.S. law if it offers services to Americans.