Crypto exchange Binance Now actively helps several countries to write cryptographic regulations and establish national reserves of digital assets, according to the CEO Richard Teng.
What happened: This decision comes in the middle of the world feeling after the more favorable position of the United States on cryptocurrencies under President Donald Trump, the Financial Times reported on Thursday.
“Compared to many other jurisdictions, (the United States) is ahead of this front,” said Teng in an interview, pointing to recent American plans to create a legal framework for digital assets and build a Bitcoin strategic reserve.
This change of policy has prompted other nations to ask for advice from Binance.
Teng said that the exchange had been “approached by many” of governments asking for help in their regulatory executives.
While refused to appoint specific countries, Pakistan and Kyrgyzstan recently confirmed that they were working with the founder of Binance Changpeng Zhao To shape local crypto policies.
The sharp increase in the demand for regulatory advice occurs despite the recent legal problems of Binance.
In 2023, the scholarship pleaded guilty to accusations related to money laundering and the violation of international sanctions, paying more than $ 4.3 billion in penalties.
Zhao resigned as CEO and then served a four -month prison sentence.
Under the new management, Binance has implemented structural reforms, with almost 25% of its 6,000 employees, now devoted to compliance.
The United States has also placed Binance as part of a five-year compliance monitoring program led by the Financial Crimes undercorcement Network.
Teng said that the internal changes of the company had made it “a form and a form that regulators appreciate much more compared to the past”.
Read also: The Panama Municipal Council now accepts Bitcoin, Ethereum for taxes, fines, costs
Why is it important: The evolutionary regulatory role of Binance is supplemented by its involvement in the aid to countries to establish crypto reserves.
Teng noted the growing interest on the part of sovereign funds and national governments in the construction of strategic funds of digital assets.
“We have in fact received a number of approaches,” he said.
Trump’s administration contributed to this momentum.
Last month, the United States announced the training of a national Bitcoin BTC / USD reserve using assets entered by the police, now totaling approximately $ 17.1 billion on Jamming COINaccording to Arkham.
However, the announcement disappointed certain market players who had planned large -scale government purchases to increase demand.
Although Bitcoin has reached a summit of $ 108,000 after victory in the Trump elections, the asset has since dropped more than 15% among the concerns about its aggressive tariff policies.
However, supporters of a bitcoin reserve argue that he can serve as a cover against the discharge of fiduciary currency, positioning bitcoin as a modern “digital gold”.
Trump’s return to the White House also changed Binance’s position to the American market.
Teng confirmed that the SEC had interrupted its investigation into Binance and its affiliate in the United States, and that discussions on a potential resolution were underway.
Entities affiliated to Trump also deepen links with binance.
World Liberty FinancialAn Crypto initiative associated with the Trump family plans to launch a stablecoin using the Binance blockchain infrastructure.
While Binance works to rebuild confidence and credibility, Teng said that the company “works very hard” on the choice of a location for a world seat, an unprecedented stage for the exchange, which has historically avoided an official operations base.
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