Binance Advises Governments on Building Crypto Reserves
Countries Seeking Binance's Help for Crypto Reserves
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 Changpeng Zhao's (CZ) resignation, stated that the company is actively involved in supporting several governments with crypto policy development. Stating that the U.S. is 'more advanced' compared to many other jurisdictions, Teng remarked:
While Teng declined to identify which governments have reached out to Binance, he confirmed that the company has been 'approached by quite a few' countries to assist them in 'formulating their regulatory frameworks to regulate crypto.'
This step comes less than two years after the exchange pleaded guilty to U.S. criminal charges related to money laundering and sanctions violations. The company remains under U.S. oversight through a five-year compliance monitoring arrangement by the Financial Crimes Enforcement Network.
U.S. policies have changed under President Donald Trump, affecting Binance's position. Teng shared:
Although Trump recently ordered the establishment of a strategic bitcoin reserve, the U.S. clarified that it would initially include digital assets seized by law enforcement, not new market purchases. Nevertheless, bitcoin supporters see 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 strategy 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.
