Binance CEO Changpeng Zhao has said that regulation, rather than lack of clarity, is a better option for the crypto industry. However, he added that regulation by enforcement is bad. Speaking at the Hong Kong Web3 Festival, Zhao said it was important to actively engage with regulators and find ways to limit nefarious players in the industry. He also noted that governments trying to control crypto may in fact help grow its adoption, by pushing people into crypto with restrictions on traditional financial markets. Zhao's comments come after Binance was sued by the US Commodity Futures Trading Commission for allegedly operating an "illegal" exchange and a "sham" compliance program.

(By Yogita Khatri)