Binance has begun advising governments on cryptocurrency regulation and national digital asset reserves, according to a report by the Financial Times published on April 17. Richard Teng, who took over as CEO of Binance after the resignation of Changpeng Zhao (CZ), stated that the company is actively engaged in supporting several governments with the development of crypto policy. Stating that the US is 'more advanced' compared to many other jurisdictions, Teng said:
While Teng declined to identify which governments have contacted Binance, he confirmed that the company has been 'approached by quite a few' countries to assist them in 'drafting their regulatory frameworks for regulating crypto.'
This move comes less than two years after the exchange pleaded guilty to US criminal charges related to money laundering and sanctions violations. The company remains under US scrutiny through a five-year compliance monitoring arrangement by the Financial Crimes Enforcement Network.
US policies changing under President Donald Trump have affected Binance's position. Teng shared:
Although Trump recently ordered the establishment of a strategic bitcoin reserve, the US clarified that it would initially include digital assets seized by law enforcement, rather than new market purchases. Nevertheless, bitcoin supporters view this move as a symbolic endorsement of crypto as a sovereign asset.
Meanwhile, CZ has also advised governments such as Pakistan and Kyrgyzstan on blockchain strategies and digital assets. His expertise supports the creation of regulatory frameworks and promotes innovation in decentralized finance, aiming to enhance economic growth, digital transformation, and global competitiveness in emerging markets through blockchain integration.
