Binance US CEO: Bitcoin adoption in the U.S. may depend on simplified KYC process

In the latest Unqualified Opinions podcast, Binance US CEO Catherine Coley highlighted the complexity of the US market in crypto, the role of Binance US, and issues related to the adoption of cryptocurrencies in the United States. Coley highlighted U.S. regulatory requirements for anti-money laundering (AML) and KYC, and stressed that the U.S. team has taken the lead in streamlining this process to make it faster. "We've simplified KYC for our users to get them through faster. This is one area where we realize there are huge obstacles in the United States. We must conduct KYC and AML reviews for all individuals and truly go deeper than you from a global perspective "Know it." Coley said the safe harbor proposal by U.S. SEC commissioner Hester Peirce was similar to an olive branch. Regarding the three aspects of cryptography (decentralization, security, and scalability), Coley added, "You have to focus on one or two aspects to get adopted, and then you can focus on three aspects. I think, This is the real opportunity for those who are starting a transaction or asking for U.S. users. "