JUST

Richard

2024

TIME

<h4><strong>Binance CEO Richard Teng recently spoke about the possibility of the exchange re-entering the U.S. market after leaving the market in 2023. </strong></h4> 
<p>While many believe a Bitcoin-friendly president could draw Binance back to the U.S., Teng believes it is too early to decide.</p> 
<h5><strong>Teng Discusses Binance’s Global Expansion and Compliance Focus</strong></h5> 
<p><span style="font-weight: 400;">Teng shared his thoughts in an interview with Bloomberg TV on Dec. 9. He emphasized that Binance is currently focused on its global expansion and targeting institutions and high-net-worth individuals.&nbsp;</span></p> 
<p><span style="font-weight: 400;">Binance’s exit from the U.S. came after a $4.3 billion settlement with the U.S. government over charges related to sanctions violations, money laundering, and operating as an unlicensed money transmitter.</span></p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Binance boss Richard Teng says re-entering US market a ‘premature discussion’ <a href="https://t.co/4EjtI8f1ie">pic.twitter.com/4EjtI8f1ie</a></p> 
 <p>— CryptoMutant (@CryptoMutant) <a href="https://twitter.com/CryptoMutant/status/1866369485642621118?ref_src=twsrc%5Etfw">December 10, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">As part of the settlement, Binance is under the oversight of independent monitors for compliance. Binance’s U.S. arm, Binance.US, still operates as a crypto-only exchange. However, it is unable to process U.S. dollar transactions.</span></p> 
<div class="youtube-embed" data-video_id="ubvjPCh7HPI">
 <iframe title="Binance CEO on Trump, Crypto Regulation" width="696" height="392" src="https://www.youtube.com/embed/ubvjPCh7HPI?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<p><span style="font-weight: 400;">Teng also <a href="https://www.youtube.com/watch?v=ubvjPCh7HPI" target="_blank" rel="noopener">addressed</a> whether Binance would attempt to influence President Trump’s views on crypto regulation. He expressed his belief in compliance, adding that Binance had made huge investments to comply with policies where it operates.&nbsp;</span></p> 
<p><span style="font-weight: 400;">Binance has adopted a more compliance-friendly stance to crypto regulation since Teng was appointed CEO in November 2023.&nbsp;</span></p> 
<h5><strong>Will China build a Bitcoin reserve?&nbsp;</strong></h5> 
<p><span style="font-weight: 400;">Former Binance CEO and co-founder, Changpeng “CZ” Zhao recently shared his insights on China’s potential to adopt a Bitcoin reserve. There have been conversations that the U.S. could adopt a Bitcoin reserve with a crypto-friendly president at the White House.&nbsp;</span></p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">CZ SAYS IT’S JUST A MATTER OF TIME FOR CHINA’S BITCOIN RESERVE</p> 
 <p>CZ’s got a wild take: China’s gonna grab Bitcoin like it’s the last snack at the party.</p> 
 <p>At the Bitcoin MENA event, he said it’s “inevitable” that China builds a BTC reserve, even if they’re playing it quiet for now.… <a href="https://t.co/vIaGJaB3wy">pic.twitter.com/vIaGJaB3wy</a></p> 
 <p>— Mario Nawfal’s Roundtable (@RoundtableSpace) <a href="https://twitter.com/RoundtableSpace/status/1866221170393039186?ref_src=twsrc%5Etfw">December 9, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p><span style="font-weight: 400;">Speaking at the Bitcoin MENA conference in Abu Dhabi, CZ highlighted the possibility of smaller nations leading the way in adopting Bitcoin reserves. However, he acknowledged China’s unpredictable approach due to its government’s secrecy.</span></p> 
<figure id="attachment_157642" aria-describedby="caption-attachment-157642" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-157642" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-scaled.jpeg" alt="" width="2560" height="1441" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-scaled.jpeg 2560w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-300x169.jpeg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-1024x576.jpeg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-768x432.jpeg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-1536x865.jpeg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-2048x1153.jpeg 2048w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-746x420.jpeg 746w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-696x392.jpeg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/12/CZ-Binance-IN-MENA-1068x601.jpeg 1068w" sizes="(max-width: 2560px) 100vw, 2560px">
 <figcaption id="caption-attachment-157642" class="wp-caption-text">
  cz speaking at a MENA conference
 </figcaption>
</figure> 
<p><span style="font-weight: 400;">CZ noted that if China decides to act, it could move swiftly, given its ability to implement policies quickly. He also suggested the Chinese government might quietly acquire Bitcoin before making any public announcements.</span></p> 
<p><span style="font-weight: 400;">Zhao has maintained an active presence on social media since his release from prison. The Binance founder recently urged <a href="https://www.altcoinbuzz.io/cryptocurrency-news/cz-advocates-for-real-blockchain-apps-over-meme-coins/" target="_blank" rel="noopener">developers to focus on creating real-world apps</a> rather than memecoins. Although he plays no role on Binance, CZ plans to focus on education amongst other things.&nbsp;</span></p> 
<p><iframe title="I HAVE NEWS FOR XRP LINK HOLDERS! It Has Finally Happened" width="696" height="392" src="https://www.youtube.com/embed/u8b-o-p-JbY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/binance-ceo-says-us-re-entry-talks-are-too-early/">Binance CEO Says US Re-entry Talks Are Too Early</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Binance CEO Says US Re-entry Talks Are Too Early

Altcoin Buzz

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