Binance wants its next CEO to have strong regulatory experience

Chinnapong/iStock Editorial via Getty Images The world's largest cryptocurrency exchange, Binance, is looking for a leader with strong regulatory experience to replace the charismatic Changpeng Zhao as its CEO, Coindesk reports, citing comments made by Zhao at a press conference. "There is always a pool of candidates who could succeed me. We are looking for someone with a strong regulatory background to step in and be CEO," he said. The remarks follow increased scrutiny from regulators around the world regarding cryptocurrency, and Binance specifically. In May, Bloomberg reported that Binance is facing investigations by the U.S. Justice Department and the IRS. The company was banned from operating in the U.K. and Italy, and Binance ended support for stock token purchases after a Hong Kong regulator said the company isn't licensed or registered in the territory. To address the increased pressure from regulators, Binance is "pivoting from a tech startup to