Binance’s new CEO: Binance’s compliance shortcomings are a thing of the past

Binance’s new CEO Richard Teng said in an interview with Cointelegraph that Binance’s early compliance shortcomings are a thing of the past and the exchange is now “completely different.” He took over as CEO on November 21. He is looking forward to the challenges ahead and said he will work closely with global regulators to promote the company's growth. He believes that the “gloom” surrounding Binance in recent months is dissipating since it reached a settlement with the U.S. Department of Justice over violations of U.S. regulations and sanctions programs. Teng also emphasized that Binance is now more focused on compliance and has recruited strategic talents to cope with regulatory requirements in different jurisdictions. Binance will focus on developing regional headquarters in the United Arab Emirates (UAE), which serves as the headquarters for the Middle East and North Africa (MENA) region, and France, which serves as its European base. In June 2023, Binance was forced to terminate its services in the Netherlands, but European crypto asset market regulations may provide opportunities for its future expansion in new markets. Teng acknowledged that taking over CZ's role would be a daunting task, but said he would use his values ​​and expertise to bring new approaches and perspectives to the increasingly mature company. (cointelegraph)