Richard Teng, the chief government of the world’s largest cryptocurrency alternate, Binance, who took over the submit from legendary CZ in November 2023, has revealed an necessary assertion about Binance.
He has additionally shared a few of his earlier profitable experiences with constructing regulatory compliance within the crypto area.
Binance CEO’s necessary assertion
Richard Teng introduced that Binance is presently probably the most regulated alternate all over the world and collaborates with the authorities of varied international locations and completely different corners of the planet.
Amongst these international locations are the United Arab Emirates and France, the place Binance was just lately granted regulatory licenses. Beforehand, Binance was banned from a number of international locations in Europe, equivalent to Italy and Germany, and Singapore as effectively. Ultimately, its founder and former CEO, Changpeng Zhao (CZ), was compelled to step down from his main place and spend 4 months in a federal jail within the U.S. after pleading responsible to violating the native anti-money laundering legal guidelines. Moreover, Binance needed to pay a high quality of 4.3 billion {dollars}.
Earlier than @Binance, I helped construct one of many first crypto regulatory frameworks.
In the present day, we’re probably the most regulated alternate globally.
— Richard Teng (@_RichardTeng) August 22, 2025
After Richard Teng was promoted to the place of CEO as a substitute of CZ, Binance took a course of regulatory compliance in all of the jurisdictions the place it’s current.
Teng has an unlimited regulatory background, together with his roles at prime monetary authorities in Singapore and Abu Dhabi.
