Binance CEO Sees ‘Complete Reversal’ in U.S. Crypto Policy: Exclusive Interview
Binance CEO Richard Teng called the current choice of the U.S. Securities and Exchange Commission (SEC) to withdraw its 2023 suit against Binance a transformation, a 180-degree turn that can potentially open up the U.S. to the world once again as the preeminent crypto center. In an interview with the Street Roundtable, Teng expressed appreciation of what he referred to as a more progressive stance under SEC Chairman Paul Atkins and the Trump administration.
Richard Teng said, we are really grateful to Chairman Paul Atkins of the U.S SEC, President Donald Trump, and his administration to have a very considerate and thoughtful technique towards the solution of crypto. They are deciding to permit development instead of squash it.
Binance Reviews U.S. Crypto Policy Landscape
Teng emphasised the difference between today and what he called operation 2.0 meaning the last 4 years of what lots of in the market perceived as regulative crackdown. According to him, the decision is an enormous success, not just to Binance as a business but likewise to crypto as a market. Binance is likewise carefully keeping an eye on the U.S. regulative environment regardless of its recent attention on expanding globally. According to Teng, the exchange is closely tracking guidelines such as the continuously changing Widespread Stablecoin Act and bigger crypto regulatory systems.
Binance Strikes 275 Million User Milestone
Richard Teng stated, we have an extremely close watching short of whatever that occurs with the rule solution going on in the U.S., so we will see. We will make choices of opportunities offered to us in the U.S. market in the future. Binance has actually been on a brand-new level particularly under the leadership of Teng, with the platform just recently exceeding 275 million registered users. The factor behind the continuous success of the platform according to Teng is a well-understood mission and a user-first culture that was produced by its charter member, including Changpeng CZ Zhao.
He stated, the DNA, culture, the mission statement of Binance has actually been relatively clear considering that the time creator CZ and the other co-founders started the enterprise.
Binance Invests Greatly in Data Protection
The business has likewise kept revealing new functions in an effort to make it as friendly to use as possible such as Binance Megadrop, Super Earn products, Binance Square and recently released Binance Alpha 2.0, an advanced content and insight service aimed at crypto traders. Teng likewise duplicated the point about strict concentrate on security and regulatory compliance of the Binance platform. He warned that a lot of platforms end up being hacked since they had actually not devoted the required energy on security. As a step against that, Binance has subjected itself to intense investment into information file encryption, real-time monitoring of threats and lots of layers of security.
Binance Emphasizes $1 Billion SAFU Fund
The Secure Asset Fund for Users (SAFU), an emergency insurance fund wisely created by the platform with a $1 billion policy, is the primary distinction it makes to provide protection to its users. It is a kind of assistance that others are not going to do, Teng said.
With Binance taking a look at its new future, Teng, in his words, indicates that a U.S. regulative environment much warmer than the existing one may lead to among the largest exchanges worldwide coming back to the United States in a focus on innovation, adherence to law, and user confidence.
Conclusion
As Binance progresses under Richard Teng’s leadership, the company remains committed to user security, innovation, and regulatory compliance. With more than 275 million users and renewed interest in the U.S. market, Binance shows great potential to influence the future development of crypto on both a worldwide and regulation-friendly level.
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