Binance, a number one cryptocurrency trade, reiterated its dedication to rebuilding belief within the crypto trade. Richard Teng, the trade’s CEO, assured customers of this dedication in a put up on X, noting that compliance stays pivotal to Binance’s operations.
Compliance as core Binance precept, not checkbox
Teng says, “Compliance is not only a checkbox for us – it is the inspiration of belief.” The Binance CEO restates the trade’s dedication to following regulatory tips not as a formality however as a option to earn public belief.
In different phrases, quite than complying to keep away from penalties from the regulatory physique, Teng mentioned Binance is targeted on guaranteeing that its customers have implicit religion in it.
Compliance isn’t only a checkbox for us—it’s the inspiration of belief.
Our dedication to regulatory alignment is how we construct a safer, extra dependable digital financial system for everybody. 🤝
— Richard Teng (@_RichardTeng) April 22, 2025
Teng maintains that the trade is actively working to align its operations with the monetary laws in every nation wherein it operates.
Notably, since Teng turned CEO of Binance in 2023, the trade has elevated its compliance funds by 35%. This led to a rise in its year-over-year spending on compliance from $158 million to $213 million.
This alerts a strategic push to align with world laws as nations enhance scrutiny of crypto actions. The heightened scrutiny from regulatory authorities turned extra intense after the 2022 FTX collapse.
Richard Teng’s rising function as trade spokesperson
Teng is positioning Binance’s compliance as a option to engender a steady and reliable crypto ecosystem.
The CEO’s message is not only for customers and buyers but in addition for regulatory establishments within the nations the place it operates: “Binance is dedicated to regulatory alignment.”
Some customers who reacted to Teng’s put up recognized this mindset as needed for rising the crypto trade. They famous that if belief is excessive, buyers who haven’t embraced crypto may simply resolve to affix the sector.
Teng has determined to be a extra vocal voice within the house as he just lately made a bullish comment about Bitcoin.
