The world's largest digital asset exchange made the move less than two years after it pleaded guilty to US criminal charges. Please share articles by clicking the share button at the top or side. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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Binance, the world’s biggest cryptocurrency exchange, which in 2023 pleaded guilty to US criminal charges, is advising several countries on creating their own digital assets regulations and establishing national strategic bitcoin reserves.

The company's chief executive, Richard Teng, told the Financial Times that other nations were following the US's more crypto-friendly approach under President Donald Trump, which included plans to establish a regulatory framework for digital assets and a national stockpile. Please use the sharing tools found at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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Teng stated, "The United States are far ahead of many other jurisdictions on that front." The firm has “been approached by quite a lot” of countries to “[help] them with formulating their regulatory framework to govern crypto”, he added. He declined to name countries that the firm is working with.

The news comes less than 18 months after Binance pleaded guilty to criminal charges related to money laundering and breaching international financial sanctions, and agreed to pay more than $4.3bn in penalties. Co-founder and chief executive Changpeng Zhao stepped down and was replaced by Teng. Zhao later served four months in prison.

Earlier this year France deepened its investigation into Binance on suspicion it broke European money laundering and terrorist financing laws between 2019 and 2024. Binance has denied the allegations and said it will “vigorously fight any charges made against it”. Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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The US has also imposed a five-year monitoring programme, which came into effect last year, on the exchange to ensure compliance, overseen by its Financial Crimes Enforcement Network.

Teng said nearly a quarter of Binance’s 6,000 employees worked in compliance and it would continue to invest heavily in this area.

The company was now “in a form and shape that regulators appreciate much more compared to the past”, he added.

This month both Pakistan and Kyrgyzstan announced that Zhao had begun advising them on developing crypto regulations and the use of blockchain technologies.Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email [email protected] to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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According to compliance software company Fenergo's Rory Doyle, head of financial crime policy, global anti-money laundering regulations have been updated to include cryptocurrency businesses in recent years. “Money laundering is a $2tn-to-$3tn a year business and crypto is getting into line. Crypto is becoming more mainstream and firms are making money from legitimate business. It’s just starting not to be worth being negligent in your procedures,” he said.

Teng stated that the exchange was assisting a number of nations in establishing national reserves of strategic digital assets. "We have actually received quite a few approaches from a number of governments and sovereign wealth funds regarding the establishment of their own crypto reserves," the statement reads. Please make use of the sharing tools that can be found by clicking the share button at the top or side of the article. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. To purchase additional rights, send an email to [email protected]. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour.

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Trump last month ordered the creation of a US strategic bitcoin reserve and digital assets stockpile, although the news disappointed traders hoping the plan would trigger a wave of large-scale government purchases of digital assets.

Bitcoin surged to a record of $108,000 per token in the wake of Trump’s victory last November. However, the price has tumbled 10 per cent this year as momentum faded and investors have sold risky assets on fears over the impact of Trump’s aggressive tariff policy.

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