The biggest cryptocurrency exchange in the world, Binance, is taking on an advisory role globally, helping governments create national Bitcoin reserves and rules pertaining to digital assets. CEO Richard Teng revealed in a recent interview with the Financial Times that the exchange is closely collaborating with a number of nations to provide advice on navigating the complicated cryptocurrency landscape.
Teng pointed to the United States’ increasingly supportive stance on digital assets under President Donald Trump as a catalyst for international interest. “Compared to many other jurisdictions, [the US] is way ahead on that front,” Teng said, noting a growing trend among governments looking to follow suit. While he declined to name specific nations, Teng confirmed that Binance has been approached by “quite a lot” of countries for assistance in shaping their regulatory frameworks.
From Legal Setbacks to Strategic Partner
Binance’s recent legal issues have drastically changed with its new position as a government advisor. The business agreed to pay more than $4.3 billion in fines after entering a guilty plea to accusations of money laundering and violations of international financial sanctions in the United States in 2023. Changpeng Zhao, the co-founder and then-CEO, resigned as a result of the settlement and was later given a four-month prison sentence. Richard Teng, previously a senior executive, stepped in to lead the company.
Despite continuing scrutiny—France, for instance, is still investigating Binance over potential breaches of anti-money laundering and anti-terrorism laws—the company is determined to reposition itself. It has been placed under a five-year compliance monitoring program by the U.S. Financial Crimes Enforcement Network, aimed at ensuring adherence to regulatory standards.
A New Focus on Compliance
Since then, Binance has strengthened its infrastructure for compliance. Teng disclosed that, as part of a larger initiative to better conform with regulatory requirements, some 25% of the company’s 6,000 personnel are now devoted to compliance tasks.
“We’re now in a form and shape that regulators appreciate much more compared to the past,” Teng noted, emphasizing Binance’s commitment to becoming a trusted player in global finance.
In line with that strategy, former CEO Zhao has taken on advisory roles in countries like Pakistan and Kyrgyzstan, helping them draft policies and adopt blockchain technologies.
Governments Eye National Crypto Reserves
One of the most striking revelations from Teng’s interview is that Binance is actively working with multiple governments and sovereign wealth funds to establish national digital asset reserves. “We’ve actually received quite a number of approaches… on the establishment of their own crypto reserves,” he said.
The move follows a recent executive order from President Trump, directing the creation of a strategic U.S. Bitcoin reserve sourced from assets forfeited through law enforcement actions. The U.S. currently holds around $17.1 billion worth of cryptocurrency—mostly on the Coinbase exchange—according to data from Arkham Intelligence.
Bitcoin’s meteoric rise to a record $108,000 following Trump’s election victory has cooled, with the asset losing 10% of its value this year amid investor anxiety over the administration’s trade policies. Nonetheless, advocates of a Bitcoin reserve see it as a hedge against inflation and a potential alternative to the U.S. dollar, likening the cryptocurrency to “digital gold.”
Regulatory Winds Shift in Binance’s Favor
Teng acknowledged that recent political developments in the U.S. have bolstered Binance’s position. The Securities and Exchange Commission (SEC) has reportedly paused its investigation into Binance and its U.S. affiliate, signaling a possible resolution under the new administration.
“We’ve benefited greatly in the past few months from the policies coming out of the U.S.,” said Teng. “I think the sentiment has shifted a lot.”
Looking ahead, Binance is also exploring the establishment of a formal global headquarters—something former CEO Zhao long resisted. Teng said the board and executive team are now seriously evaluating options. “It requires serious deliberation… and hopefully we’ll be able to announce our intentions on that front soon.”
