Changpeng Zhao, the Chinese-Canadian chief executive of the world’s largest cryptocurrency exchange by volume, admitted the company hasn’t “always got everything exactly right” but said he’s doubling his compliance team and working on relationships with regulators. (The Logic)

Talking point: Binance has weathered warnings and enforcement actions from countries around the world in recent weeks, announcing June 26 it would exit Ontario amid a crackdown in the sector by Canadian securities regulators. In the post, Zhao compared regulations in the cryptocurrency sector to those in the automotive industry, noting traffic laws, seat belts and infrastructure like stop lights were developed over time. “Crypto is similar in the sense that it can be accessible for everyone, but frameworks are required to prevent misuse and bad actors,” he wrote. “Binance wants to be a positive contributor.”