Binance CEO Richard Teng Makes a Statement for the End of 2024: He Talked About The Fate Of Cryptocurrencies After Trump.
Binance CEO Richard Teng shared his views on the evolving regulatory landscape for cryptocurrencies, especially under the potential influence of the Trump administration and its "crypto-friendly" stance, in a recent interview.
Teng touched on a wide range of topics, including Binance's compliance efforts, global market strategies, and the state of crypto adoption in regions like the Middle East.
The famous CEO noted that it was important for Donald Trump to select crypto-friendly figures for key roles such as SEC Chairman and crypto chief. Teng described 2024 as a turning point, pointing to milestones such as the price increase of Bitcoin, approval of ETFs for Bitcoin and Ethereum, and the increasing involvement of institutions such as BlackRock.
On the potential impact of Trump's
regulatory stance, Teng commented:
"We now have a crypto-friendly
president in America... This represents
the most innovative technology for
the future, and countries that adopt it
will do very well." However, he added
that Binance continues to focus on
compliance and global operations rather than engaging in political lobbying to influence regulatory decisions in the US.
Addressing Binance's ongoing scrutiny by U.S. regulators, including the Department of Justice and the Treasury's Financial Crimes Enforcement Network, Teng said the company is committed to compliance. "Compliance is the way to go," Teng said, noting that Binance invested $230 million in compliance programs last year, a 30% increase from previous years.
Binance is currently licensed in over 20 countries, including India, Argentina, and several European countries. "We continue to work closely with U.S. watchdogs to further enhance our programs," Teng said, describing compliance as a competitive advantage.
