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Binance Advising Multiple Governments on Digital Asset Reserves and Crypto Regulation, Eyes Global Headquarters
Binance is helping many countries build Bitcoin reserve strategies
Binance is currently advising various governments on building national reserves with digital assets and establishing legal frameworks for crypto, while also considering setting up a global headquarters.
Richard Teng, the current CEO of Binance, revealed that the exchange is actively working with several governments and sovereign wealth funds to help them create strategic reserves backed by digital assets, including Bitcoin.
In an interview with the Financial Times, Teng said that some countries have approached Binance for support in designing their national crypto reserve systems.
The news of Binance's involvement in policy discussions comes less than 18 months after the exchange pleaded guilty to criminal charges and agreed to pay over $4.3 billion in fines for violating global financial regulations. Following that, Changpeng Zhao (CZ) resigned as CEO and was sentenced to four months in prison, paving the way for Richard Teng to take over.
Under Teng’s leadership, Binance has made a significant effort to rebrand itself from a legally ambiguous platform to a compliance-oriented organization. According to Teng, nearly 25% of Binance’s 6,000 employees now work in legal and compliance departments. The exchange is also working closely with countries such as Pakistan and Kyrgyzstan to help develop digital asset regulations and promote blockchain adoption.
The shift in the U.S. stance under Trump’s return to the White House is having a significant impact on the entire crypto industry. The U.S. Securities and Exchange Commission (SEC) recently paused its investigation into Binance for 60 days, citing “positive developments in ongoing discussions between both parties.” Additionally, the Trump-affiliated stablecoin project, USD1, led by World Liberty Financial, is reportedly set to launch on Binance’s BNB Chain.
With Bitcoin having reached nearly $110,000 following Trump’s election victory, and the U.S. currently holding about $17.1 billion worth of BTC, the idea of Bitcoin as “digital gold” is gaining traction among nations as a potential alternative to traditional U.S. dollar-based reserve systems.
Binance is helping many countries build Bitcoin reserve strategies
Binance is currently advising various governments on building national reserves with digital assets and establishing legal frameworks for crypto, while also considering setting up a global headquarters.
Richard Teng, the current CEO of Binance, revealed that the exchange is actively working with several governments and sovereign wealth funds to help them create strategic reserves backed by digital assets, including Bitcoin.
In an interview with the Financial Times, Teng said that some countries have approached Binance for support in designing their national crypto reserve systems.
Although he didn’t disclose specific names, Teng emphasized that the United States is leading this trend, especially under President Donald Trump, who has introduced more crypto-friendly policies. One of the notable developments is an executive order to establish a national Bitcoin reserve, utilizing BTC seized from criminal cases and law enforcement actions in the past.The news of Binance's involvement in policy discussions comes less than 18 months after the exchange pleaded guilty to criminal charges and agreed to pay over $4.3 billion in fines for violating global financial regulations. Following that, Changpeng Zhao (CZ) resigned as CEO and was sentenced to four months in prison, paving the way for Richard Teng to take over.
Under Teng’s leadership, Binance has made a significant effort to rebrand itself from a legally ambiguous platform to a compliance-oriented organization. According to Teng, nearly 25% of Binance’s 6,000 employees now work in legal and compliance departments. The exchange is also working closely with countries such as Pakistan and Kyrgyzstan to help develop digital asset regulations and promote blockchain adoption.
The shift in the U.S. stance under Trump’s return to the White House is having a significant impact on the entire crypto industry. The U.S. Securities and Exchange Commission (SEC) recently paused its investigation into Binance for 60 days, citing “positive developments in ongoing discussions between both parties.” Additionally, the Trump-affiliated stablecoin project, USD1, led by World Liberty Financial, is reportedly set to launch on Binance’s BNB Chain.
With Bitcoin having reached nearly $110,000 following Trump’s election victory, and the U.S. currently holding about $17.1 billion worth of BTC, the idea of Bitcoin as “digital gold” is gaining traction among nations as a potential alternative to traditional U.S. dollar-based reserve systems.
