CZ: Establishing a global regulatory body for crypto is not feasible at present.

CZ stated at the World Economic Forum in Davos that while the banking, securities, and regulatory sectors are highly developed and mature, the crypto industry is different. Currently, regulations for crypto vary significantly from country to country. For example, Binance holds licenses in approximately 22 or 23 countries globally, but most countries do not have a licensing system. The US is developing rapidly in this area, but it is still in progress. Countries like the UAE, Bahrain, and Pakistan have adopted relatively forward-looking regulatory systems and are willing to engage in dialogue with industry participants. However, there are differences in regulatory policies across countries, especially regarding capital controls. For instance, when it comes to money laundering, tax systems differ from country to country. Therefore, establishing a global regulatory body for the crypto industry is currently not feasible, as each country has different considerations.