Yes they need that in order for them to be available in many countries, I think Binance CEO came to our country last year have some talks but I don't know if what is the purpose for that, maybe for them to be legally available in here? because this country is not yet open to crypto and they treat it as a threat to our economy and the whole nation. That's good actually, if they want to reach for more people they need to get approval from the government as well.
If Binance would comply with all the requirements for countries' approval, more countries could experience the benefit of their cryptocurrency services. Recently, Binance has been facing issues in our country since they can't comply with the requirements being asked by our government but so far, we're still able to use Binance freely here.
We can't question why most traders prefer Binance because it's the most trusted exchange so far so people will always choose it not just because it's a top exchange but also to the good service that they provide.
But I hope it is not only binance to do the same thing, also ither exchangers to make adoption of this technology faster and for more people to benefit from this industry. Many countries are aware of the existence, advantages and disadvantages of using this blockchain on transactions but majority chose to be neutral because they probably worried that their people could be at risk by promoting it to them. The market prices are too volatile even at this point which could be a problem with regards to general market equality of prices, wherein it could result to losses at some times especially during market downfall. Non-crypto users will surely have a hard time which I think governments are also considering and also, taxation. But let us look up into it, in the future, for developments.