CRYPTO NEWS AROUND THE GLOBE

Crypto startup Fideum wins Mastercard Lighthouse incubator prize

La Belgique souhaite soutenir une initiative blockchain européenne

Bitcoin Development Platform Tap Protocol Secures $4.2 Million in Funding

Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions

Galaxy Digital targets more crypto bankruptcy asset sales after FTX deal

Super PAC Raises $78 Million From Crypto Who’s Who

Private Credit Rebounds in the Crypto Sector With a 55% Jump in 2023

The Countdown for a Bitcoin ETF Decision Is Approaching a Critical Deadline

Exclusive. Binance leaves Adan's Board of Directors

Goldman Sachs anticipates surge in security token trading

The French Red Cross launches its first NFT donation collection with TheSandbox

According to JPMorgan, Ether will outperform Bitcoin and other cryptocurrencies in 2024

Obligate launches tokenized structured products for institutional investors

Ex-Credit Suisse Executive Debuts Crypto Trading Venue for Banks

GAC: Jack Dorsey Invests $6.2M in the “Ocean” Project

Bitstamp and Flowdesk 1st step for the EURCV stablecoin

The Blockchain Group: receivership raises a number of questions

Marwan Alzarouni (Dubai): "Our regulation will be strengthened as the ecosystem develops".

Coinbase to Offer Spot Crypto Trading Outside US in Global Expansion

DWS, Flow Traders and Galaxy Are Forming a Firm to Issue an Euro Stablecoin

Google softens its policy on crypto advertisements, in view of the Bitcoin spot ETF?

ELIZABETH WARREN RECRUITS 5 SENATORS FOR HER ANTI-CRYPTO BILL

CHINA: BLOCKCHAIN USED TO VERIFY THE IDENTITY OF CITIZENS

Inflation, yield: are the French increasingly tempted by cryptos?

Blockchain consulting firm founder says Binance’s inflows, assets demonstrate confidence in new leadership

All Crypto News Around The Globe

Binance CEO: 'Our commitment extends beyond mere compliance'

Binance CEO Richard Teng (left) speaking at Paris Blockchain Week 2024 | YouTube/SorobanDeveloper

By Crypto Republique

Apr 11, 2024

Binance CEO Richard Teng has affirmed that Binance's commitments extend "beyond mere compliance" and demonstrate "a willingness to adhere to all regulations." Teng voiced this statement during Paris Blockchain Week on April 9.

"Our commitment extends beyond mere compliance; we aspire to elevate our standards, showcasing a demonstrable willingness to adhere to all regulations," said Teng, according to YouTube. "A robust program instils confidence in our users."

According to a video of his speech on YouTube, Teng revealed at the conference that one of the top three commitments he established upon assuming the role of CEO at Binance is to "work collaboratively with regulators to uphold standards."

Get the Newsletter

Sign-up to receive weekly round up of news from Crypto Republique

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.

More News

UK’s stringent crypto regulations spark debate as exchanges struggle to gain FCA approval

The UK cryptocurrency market continues to pose challenges for exchanges as they adapt to stricter regulatory requirements. Cryptocurrency exchange Bitget recently relaunched its UK platform after halting services in May 2024 to comply with the UK Financial Conduct Authority’s (FCA) Financial Promotions regime. This relaunch reflects Bitget’s efforts to align with the FCA’s evolving standards, aimed at enhancing consumer protection in the digital asset space.

Nov 24, 2024

Italy backtracks on crypto tax hike amid investor pushback

The Italian government recently announced a plan to increase the capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%. This proposal, part of broader fiscal measures to support election pledges and reduce Italy’s fiscal deficit, has raised concerns among cryptocurrency investors and industry leaders.

Nov 24, 2024

European banking authority issues new guidelines for crypto providers to comply with restrictive measures

On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.

Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.