Is Binance a necessary evil?
Love it or hate it, Binance commands our attention like no other. It’s the largest centralised exchange after all and supports hundreds of cryptocurrencies. It boasts high trading volumes and because of that, we consider a Moons listing by Binance to score a bull’s eye - something that we really yearn for. After all, it serves millions of customers worldwide, including those from Latin American countries, so a Moons listing would facilitate liquidity as people find it convenient to buy and sell. What’s more, Binance’s trading fee can be lower than 0.1%, thanks to BNB tokens.
However, given Binance’s myriad advantages, it has run-ins with many countries around the world due to its inability to meet regulatory guidelines. It withdrew license applications from several European countries - Belgium, Cyrus, the Netherlands and Germany. It is under investigation in France for money laundering. CZ himself is being sued by CFTC.
In view of all this, taking things into totality, do you think Binance is a necessary evil even though its integrity may be called into question?
originally posted on r/cryptocurrency