Binance, under CEO Richard Teng, is advising multiple governments on creating bitcoin reserves and developing regulatory frameworks, inspired by the U.S. approach. This aligns with a strategic organisational change for Binance as it moves towards establishing a global headquarters. Recent partnerships with Pakistan and Kyrgyzstan highlight Binance’s growing influence in national crypto strategies amidst a shift towards clearer regulations globally.
Richard Teng, the CEO of Binance, has disclosed that the crypto exchange is advising numerous governments on establishing strategic bitcoin reserves and regulatory frameworks. This initiative is gaining momentum as countries increasingly emulate the United States’ approach to digital asset regulation.
Binance is responding to multiple requests from countries and sovereign funds seeking assistance in creating their own cryptocurrency reserves. Although Teng refrained from naming specific countries, he acknowledged that the U.S. is considerably leading in this area, particularly following Donald Trump’s directive to form a strategic bitcoin reserve funded by seized cryptocurrencies.
Countries like Pakistan and Kyrgyzstan have recently begun partnerships with Binance focusing on crypto regulation, yet concrete plans for establishing national bitcoin reserves have not yet been disclosed. This highlights the evolving role of Binance in shaping national cryptocurrency strategies.
In addition to its advisory role, Binance is also undergoing significant organisational changes. Unlike its founder Changpeng Zhao’s previous stance that dismissed the need for formal headquarters, the company is now prioritising the establishment of a global headquarters, suggesting a notable shift in strategy.
Richard Teng emphasised that the board is seriously considering this transition to better align with global regulatory developments, especially after facing increased scrutiny from various international authorities. As bitcoin adoption rises, Binance aims to position itself as a reliable partner for governments, contributing to the global legitimisation of cryptocurrencies.
