The world's largest cryptocurrency exchange Binance is helping more and more countries establish digital asset regulations and explore national Bitcoin reserves, as stated by CEO Richard Teng.
According to Crypto News on the 17th, Teng revealed in a recent interview with the Financial Times that several countries have requested support in building cryptocurrency frameworks. He said, "In fact, I have received a considerable number of approaches from some governments and sovereign funds regarding the establishment of their own cryptocurrency reserves."
While not mentioning specific country names, Teng confirmed that Binance is directly collaborating with policymakers on both regulatory design and reserve plans.
This month, Pakistan and Kyrgyzstan appointed Binance co-founder Changpeng Zhao as a cryptocurrency policy advisor, emphasizing the growing influence of the exchange in helping countries develop digital asset strategies.
These appointments occurred amid reignited government interest following recent signals from the United States.
Last month, US President Donald Trump instructed the establishment of strategic Bitcoin reserves and digital asset stockpiles, showing a significant shift in Washington's stance. While the announcement did not meet market expectations for large-scale government purchases, it encouraged other countries to pursue similar strategies.
Historically, the US has maintained strategic reserves of oil and other commodities for national security and economic stability. Including Bitcoin in such plans suggests that policymakers are increasingly recognizing digital assets as part of future financial infrastructure.
Binance's expansion of advisory roles to foreign governments contrasts with its recent legal challenges. In 2023, the exchange pleaded guilty to US criminal charges related to money laundering and sanction violations, agreeing to pay over $4.3 billion in fines. Changpeng Zhao subsequently received a four-month prison sentence.
Teng, Zhao's successor, has since focused on improving regulatory relationships.
Teng stated that Binance now has a form that is "much more highly regarded by regulatory agencies compared to the past". He added that nearly a quarter of Binance's 6,000 employees currently work in compliance, and the company continues to invest heavily in supervision. The US has also imposed a five-year compliance monitoring program led by the Financial Crimes Network.
Despite ongoing investigations in Europe, including expanded investigations in France, Binance maintains that it will "actively confront all allegations" against it. Teng particularly noted an improvement in public opinion in the US, stating, "I think public opinion has changed a lot."
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