Reflections on Regulatory Landscape
During the Hong Kong Fintech Week 2025, Richard Teng, the CEO of Binance, reflected on the company’s early recognition of the evolving regulatory landscape in the cryptocurrency sector. He credited former CEO CZ (Changpeng Zhao) for instilling a robust compliance framework within the organization, which he described as having a strong “compliance DNA” alongside a clear mission. Teng emphasized that he is progressing by building upon the foundational work set by CZ, who assembled a highly skilled team to drive Binance forward.
Vision for Binance’s Future
In outlining his vision for Binance’s future, Teng identified three main objectives that will guide his leadership. His first priority is to foster the development of the largest and most sophisticated cryptocurrency ecosystem in the world. He aims to ensure that Binance offers the safest, most transparent, and most efficient products and services that cater to the needs of users.
Importance of Compliance
Teng also highlighted the crucial role that compliance plays in Binance’s strategy, labeling it as a significant competitive edge. With regulatory shifts becoming increasingly apparent, he stated that the firm’s investment in compliance has surged over 30% in the previous year and is expected to continue on this trajectory in the coming year. With a compliance team exceeding 1,000 members, Binance has positioned itself as one of the most compliant trading platforms globally, actively engaging with regulatory bodies to foster a framework of “smart regulation” that supports sustainable industry growth.
Collaboration for Mutual Benefit
Lastly, he stressed the importance of collaboration within the ecosystem for mutual benefit. Rather than simply striving to be the largest player in the market, Teng believes that joining forces with local banks, payment processors, and project teams is crucial for collective advancement in an industry still in its nascent stages. He asserted that a thriving ecosystem will yield benefits for all participants.
