Binance CEO: 'Our commitment extends beyond mere compliance'

Teng assumed the position of CEO after Binance reached a settlement with the U.S. Department of Justice (DOJ) on November 21 over historical compliance issues, as stated in a DOJ press release.

During the investigation leading up to this resolution, several U.S. government agencies identified past compliance issues within the company but also recognized the improvements Binance had made to rectify these issues, according to a post on Binance's website. Numerous government agencies commended Binance’s enhanced compliance program. The U.S. Financial Crimes Enforcement Network (FinCEN) consent order stated that Binance "remodeled its compliance program governance and organization structure, including by hiring new compliance leadership with professional compliance experience in the financial sector and law enforcement." Moreover, it was noted in the consent order that "Binance’s current compliance program would not permit users identified as associated with terrorist financing to remain on the platform or remove funds."

Paris Blockchain Week is a digital asset conference taking place from April 9-11, as per information from the event's website. Alongside Teng, other featured speakers at the conference include Stellar Development Foundation CEO Denelle Dixon, Ledger CEO Pascal Gauthier, and Ripple CEO Brad Garlinghouse.

Before joining Binance in August 2021, Teng held several prominent positions such as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Chief Regulatory Officer of Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore, as per Binance’s website.