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BINANCE FOUNDER, CZ RESPONDS TO CRITICS
Binance founder Changpeng Zhao (CZ) has responded to criticism of the cryptocurrency industry by stating that recent regulatory scrutiny is “a cleansing of the industry”.
Speaking at the Fintech Forward 2023 conference in Bahrain, CZ defended the cryptocurrency industry, arguing that it should be judged on its positive potential, not just on the actions of a few “bad players”.
CZ also addressed allegations of fraudulent activity associated with crypto exchange FTX, which he backed, and maintained that such behaviour was not reflective of Binance.
Finally, CZ dismissed allegations against Binance made by the US Securities and Exchange Commission and affirmed that the platform held the highest number of licenses and registrations of any crypto exchange.
EBONYI ASSEMBLY PASSES IMPORTANT BILL INTO LAW
On August 8, 2023, the Ebonyi State Rural Access Road Authority Law, along with other related matters of 2023, will come into effect. The law aims to establish the Ebonyi Rural Access Road Authority that will manage, design, develop, rehabilitate, reconstruct and maintain rural roads.
The bill passed after being extensively deliberated in the committee of the whole; it was read page by page and corrected for syntax and morphology errors. Kingsley Ikoro, the Leader of the House representing Afikpo North West, stated that the bill was essential due to the poor condition of rural roads across the 13 local governments. He added that the establishment of the State Rural Access Roads Authority is necessary for the development of any state and to measure its level of progress in rural areas.
Passing the bill into law would give the board leaders the power to ensure proper maintenance and reconstruction of rural roads to benefit its residents and aid in the transportation of agricultural produce. Aloysius Nwodo, the member representing Ebonyi North West, called on his colleagues to support the bill’s passage, which would enable the speedy development of rural areas.
Several members, including Friday Ogbuewu of Ezza South and Celestine Ogba of Onicha East, emphasized that the bill would address the high rate of rural to urban migration, reduce the cost of living, and enhance the economic prosperity of the people of Ebonyi.
Mrs. Chinyere Nwogbaga, the member representing Ebonyi North East, reiterated the bill’s significance in promoting sustainable development in the operation of the rural road sector and attracting investors to the state. Ikoro put forward a motion for the passage of the bill, and it was seconded by the Deputy Chief Whip, Lucas Chukwu.
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