Binance is transitioning from a regulatory pariah to a trusted advisor in global cryptocurrency policy under Richard Teng. The exchange is now assisting nations with crypto regulatory frameworks and strategic reserves, coinciding with a pro-crypto shift in US policy under President Trump. Binance’s workforce is increasingly focused on compliance, while the company explores establishing a global headquarters. Despite progress, it still faces regulatory scrutiny in various jurisdictions.
The Binance exchange is shifting from its past image of regulatory defiance to a position of influence in global cryptocurrency policy under CEO Richard Teng. Previously seen as an outlaw in the crypto space, Binance is now actively advising various national governments on designing their crypto regulations, as many countries recognise its potential as a regulatory partner.
CEO Richard Teng reported that approximately 25% of Binance’s 6,000 employees are dedicated to compliance roles, indicating a strong commitment to regulatory alignment. Additionally, the exchange is assisting governments in establishing strategic crypto reserves, following trends initiated by Trump’s policies in the US, notably his plan to treat Bitcoin as a sovereign reserve asset.
Binance’s future ambitions include possibly establishing a global headquarters, moving away from its long-held status as a decentralised entity. Teng highlighted that this potential change requires careful evaluation by the board and senior leadership, signalling a more structured approach to their operations.
In line with this regulatory shift, the Trump-aligned initiative, World Liberty Financial, plans to launch a stablecoin on Binance’s blockchain, deepening the exchange’s influence in the geopolitical crypto landscape. Teng acknowledged that recent US policies have considerably benefited Binance, reflecting a positive sentiment towards the exchange.
As Binance bolsters its position globally, former CEO Changpeng Zhao (CZ) has become an advisor on blockchain policy in Pakistan, enhancing the company’s influence in developing markets. This transformation occurs as the US, under Trump’s direction, pushes for a national Bitcoin reserve, which has heightened global interest in sovereign cryptocurrency strategies.
Despite its regulatory advances, Binance still faces scrutiny in Spain over investor misappropriation claims and continues to be investigated by French authorities for potential anti-money laundering violations. In the US, the SEC has paused its investigation into Binance during constructive discussions, while FinCEN oversees a five-year compliance monitoring regime to ensure adherence to regulations.
