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Country-specific crypto markets a bad idea, CZ says after gov’t talks

Covered:

  • CZ Government Talks
  • How Country-Specific Crypto Markets Swing Markets

CZ Government Talks

Binance CEO Changpeng “CZ” Zhao has highlighted the shortcomings of segregated cryptocurrency markets after recent talks with governments from different countries.

The global cryptocurrency exchange’s CEO has become increasingly involved in policy discussions with various governments as Binance continues its global expansion. Binance most recently obtained a license to operate in Spain, Italy and Dubai to add to a global list of countries it now operates in.

As CZ continues to consult with government organizations as a proponent of cryptocurrencies, he highlighted the need to maintain large liquidity in cryptocurrency markets after various countries called for segregated markets and order books in their jurisdiction.

How Country-Specific Crypto Markets Swing Markets

With Binance operating in over 180 countries, CZ stressed that the division of these markets would make it far easier for traders to swing markets which would lead to further volatility. The Binance CEO also argued that arbitrage traders that typically balance cryptocurrency prices across different exchanges or order books were not as efficient as a single order book:

“Large liquidity also offers better prices for users. Tighter spread. Lower slippage. This is also a very important form of Consumer Protection. Real financial impact for users.”

Binance is working with a number of countries around the world in partnerships aimed at developing cryptocurrency infrastructure and education. CZ met with the president of Kazakhstan in May 2022 to sign an agreement to assist in developing legislative guidelines and regulatory policies for cryptocurrencies in the country.

Related: ‘Bad’ crypto projects should not be bailed out says Binance founder CZ

The Turkish Minister of Treasury and Finance also held a virtual meeting with the Binance CEO in July 2022 as the country played host to Blockchain Economy Istanbul. The company launched its first customer service center in Turkey in April 2022, two years after starting operations in the country.

CZ also met with French president Emmanuel Macron in November 2021 to hold discussions around driving the development of Web3 and blockchain technology in the country. Binance pledged $115 million to the initiative at the time. Binance then gained regulatory approval to operate its exchange in France in May 2022.

Recommended: Who Is CZ?

*This article originally appeared on Cointelegraph.com.

The post Country-specific crypto markets a bad idea, CZ says after gov’t talks appeared first on CryptosRus.

Ethereum yellow paper is-sibling property

I’m reading the yellow paper and having some problems understanding equation 169 from here – also below: s(U,H) = (P(H) = P(U) ∧ H != U ∧ U !∈ B(H)_U) I can understand the first two conditions: The parent of the block associated with header H must correspond to the parent of the block corresponding::Listen

I’m reading the yellow paper and having some problems understanding equation 169 from here – also below:

s(U,H) = (P(H) = P(U) ∧ H != U ∧ U !∈ B(H)_U) 

I can understand the first two conditions:

  1. The parent of the block associated with header H must correspond to the parent of the block corresponding to header U. In other words, they must have the same parent.
  2. The blocks must be distinct

However, I cannot understand why 3 is needed. If the parent of U must correspond to the parent of H (i.e. they have the same parent) then how can U be a part of the ommer list of block H? Blocks can only be part of the ommer list of another block (as far as I understand it) if (at the very least) they are siblings with the parent of said block. So, given our initial condition that the parent of U must correspond to the parent of H, why do we need to additionally state that U cannot be part of the ommer list of H.

Country-specific crypto markets a bad idea, CZ says after gov’t talks

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