Richard Teng—the CEO of the world’s main crypto change Binance—hinted on the buying and selling platform weighing a return to the US.
Teng was requested if Binance would search for a manner again into the US or if it would contemplate launching its Binance USD (BUSD) stablecoin once more throughout a latest Bloomberg interview. “Whether we re-enter the US market, I think that’s a premature discussion,” he stated.
Binance has not responded to a request for remark from Decrypt.
The interview follows the reelection of former President Donald Trump in November, who now appears set to make the U.S. way more crypto-friendly. He has already introduced a sequence of pro-crypto regulatory picks to the general public.
The vice president-elect, J.D. Vance, holds between $250,000 and $500,000 in Bitcoin, and the Division of Well being and Human Companies Secretary, Robert F. Kennedy Jr. stated that he’s “a huge supporter of Bitcoin.” Equally, nationwide safety adviser Michael Waltz voted for pro-crypto payments and holds Bitcoin.
Teng additionally defined that Binance is basically targeted on its “global deployment” and attracting establishments, sovereign wealth funds and rich people trying “to start allocating to this space.”
The interview follows Binance leaving the U.S. following a $4.3 billion settlement with the Division of Justice. The corporate was accused of sanctions violations, cash laundering and working as an unlicensed cash transmitter.
“I believe that compliance is the way to go,” Teng stated. “Given that regulations are going to be much clearer throughout the world, we have the ability to invest very heavily in compliance. I want to make complete compliance a competitive advantage.”
Teng was beforehand Binance’s world head of regional markets, however took over because the change’s CEO in late 2023. On the time, the corporate’s co-founder and then-CEO Changpeng Zhao had agreed to step down and admitted to having violated United States cash laundering legal guidelines.
Edited by Stacy Elliott.