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Home News Crypto

Binance CEO Richard Teng Highlights Compliance and Growth in First Washington, D.C. Speech

by Team Lumida
March 27, 2025
in Crypto
Reading Time: 4 mins read
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Photo by Vadim Artyukhin on Unsplash

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Key Takeaways:

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  • Binance CEO Richard Teng emphasized the company’s commitment to regulatory compliance, with 25% of its 6,000 global workforce dedicated to compliance functions.
  • Binance, the world’s largest cryptocurrency exchange, has grown to 266 million users and over $100 trillion in cumulative trading volume, despite past regulatory challenges.
  • Teng’s speech at the DC Blockchain Summit marked his first public address in Washington, D.C., where he stressed the importance of regulatory clarity and institutional adoption for crypto’s mainstream success.
  • Binance continues to expand globally, operating in 22 jurisdictions, while Binance.US remains its separate, compliant entity in the U.S.

What Happened?

Richard Teng, CEO of Binance, delivered his first speech in Washington, D.C., at the DC Blockchain Summit, focusing on Binance’s efforts to institutionalize compliance and support the growth of the cryptocurrency industry. Teng highlighted Binance’s transformation since its founding in 2017, noting that the company now has 266 million users and has processed over $100 trillion in cumulative trading volume.

Teng, who replaced Changpeng Zhao as CEO in 2023 after Binance faced legal and regulatory challenges, underscored the company’s investment in compliance, with 1,400 employees dedicated to regulatory functions. He also reflected on Binance’s past missteps, including a $4.3 billion fine for violating U.S. anti-money-laundering laws, and its subsequent efforts to rebuild trust and meet global regulatory standards.


Why It Matters?

Binance’s focus on compliance and regulatory engagement is critical as the cryptocurrency industry faces increasing scrutiny from governments worldwide. Teng’s speech in Washington, D.C., signals Binance’s intent to re-establish its presence in the U.S. market, where it has been banned since 2019.

The company’s rapid growth and recent $2 billion investment from Emirati state-owned investor MGX highlight its global dominance, but its past regulatory violations remain a challenge. Teng’s leadership, with his background as a financial regulator, positions Binance to navigate these complexities and potentially regain trust among regulators and institutional investors.


What’s Next?

Binance will likely continue its efforts to engage with U.S. regulators and expand its global footprint. Teng’s emphasis on regulatory clarity and institutional adoption suggests that Binance will prioritize compliance as it seeks to bring cryptocurrency into the mainstream.

Investors and industry stakeholders should monitor Binance’s progress in addressing regulatory challenges, particularly in the U.S., and its ability to maintain growth while adhering to stricter compliance standards. The company’s future success will depend on its ability to balance innovation with regulatory requirements in an increasingly complex global landscape.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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