Changpeng Zhao, founder of Binance, has shifted his focus to advising governments on crypto regulation after his release from prison. Speaking in Kuala Lumpur, he urged a relaxed regulatory approach, citing Dubai’s positive framework as key. Zhao’s recent engagements include meeting with Malaysia’s PM and advising multiple countries. His new nonprofit, Giggle Academy, aims to enhance online education for children in developing nations.
Following his recent release from a U.S. prison, Binance’s founder Changpeng Zhao, known as CZ, is once again making headlines. Rather than operating his crypto exchange, CZ is now advising governments on how to approach cryptocurrency regulation. On Tuesday night, he spoke at an event in Kuala Lumpur, capturing the audience’s attention with a light-hearted greeting, acknowledging the scarcity of regulators in attendance with a joke.
Despite the humorous start, CZ’s message was quite serious. He has recently been appointed as an advisor to the governments of Pakistan and Kyrgyzstan and met earlier in the day with Malaysia’s Prime Minister Anwar Ibrahim to discuss strategies for incorporating cryptocurrency into the national landscape.
CZ expressed his belief that governments should adopt a more relaxed approach towards the crypto industry, pointing to the progressive frameworks emerging from Middle Eastern nations. He highlighted Dubai’s initiative in establishing a dedicated regulatory body for cryptocurrencies, mentioning that Binance received a full operating license there in 2024 after he relinquished voting control of the local entity.
Zhao recalled his rapid experience in Dubai, stating, “It took me literally 24 hours to get a golden visa.” He didn’t stop there, also lauding Bahrain’s central bank for implementing effective regulatory practices. Binance enjoyed a significant boost earlier this year when Abu Dhabi’s MGX invested $2 billion for a minority stake in the firm.
This new advisory role comes after CZ stepped down as CEO of Binance and paid a hefty $50 million fine in 2023, following a settlement relating to anti-money laundering violations. Despite these challenges, he shows no signs of distancing himself from crypto or his ambitions to restore his influence in the sector.
In the U.S., Zhao noted a significant shift with crypto-friendly changes under Donald Trump’s administration, stating, “With the US being so pro-crypto right now, all the other governments actually have to be slightly more competitive.”
In Malaysia, where Binance previously faced regulatory hurdles, there is now an opportunity for a fresh start. The firm’s investment in local exchange MX Global — the event’s host — signals a positive turn. PM Anwar is keen on transforming Malaysia’s financial framework to embrace blockchain technologies.
Zhao also touched on his new nonprofit, Giggle Academy, aimed at assisting children in developing countries with online education and job readiness. However, he approached a question about child labour with caution, clarifying, “We don’t want to violate any laws about working labour age.”
While Zhao may not be at the helm of Binance anymore, his engagement with the global crypto conversation proves he’s still a significant player in the industry.
