Changpeng Zhao distances Binance from BUSD as more regulators tighten oversight

Binance’s operations continue to contract as regulators across the globe tighten oversight of the beleaguered cryptocurrency exchange.

Last Thursday, Italy’s Consob securities regulator warned local investors that no Binance Group company was authorized to provide investment services and activities in the country. Consob urged investors to “exercise the utmost caution” in any transaction involving digital currencies and to recognize that they could get rug-pulled at any minute.

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