Quantcast
CRYPTO NEWS AROUND THE GLOBE
Mt. Gox to Begin Repayments in July; BTC Slides Under $61K
How this Bitcoin miner plans to eke out a profit during a rocky time for the industry
Binance Announces Tether Integration on Toncoin Network
Ethereum finally ready for its rise? The holders are holding on!
El Salvador’s president wants to use Bitcoin for national projects. Here are six ways how
US Lawmakers Visit Detained Binance Executive in Nigeria, Point to Health Concerns
Discover this pro-Bitcoin French woman who is running for the 2024 legislative elections
Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment
SEC closed the book on its Ethereum 2.0 investigation, but legal questions remain
SEC Drops Investigation into Ethereum (ETH), Consensys Says
Crypto top & flop: finally a rebound and what a rebound for the market!
Nigerian court dismisses escaped Binance exec’s human rights suit
A Wave of Large-Scale Liquidations is Sweeping Through the Crypto Market
El Salvador launches its private Bitcoin bank and takes on the banking system
Coinshares Rebrands Its Nordic Crypto ETP
Tether Debuts New 'Synthetic' Dollar Backed by Tokenized Gold in Tokenization Push
Proof of humanity: how Humanity Protocol gives a human face to Web3
President Bukele proposes Bitcoin bank for El Salvador two weeks after starting second term
The State of Crypto: The Fortune 500 Moving Onchain
Nigeria drops tax charges against ailing Binance exec as spouse calls for end to ‘nightmare’
Tesla (TSLA): shareholders validate Elon Musk's $56 billion compensation plan
Gary Gensler Predicts Ethereum ETF Approval by Summer's End
More Central Banks Are Exploring a CBDC, BIS Survey Finds
Ether Sees Significant Long-Term Holder Accumulation Amidst 2% Price Dip
MoonPay and PayPal’s Partnership Expands to EU and UK
Can Solana bounce back thanks to the CPI and the Fed after a 17% correction?
Singapore money launderer gets 17 months in $2.2bn case involving illicit crypto
The EU is targeting crypto privacy, Monero facing a significant challenge.
Brazil’s Largest Bank Expands Bitcoin and Ether Trading to All Customers
Wife of Binance exec ‘expected a lot more’ from US as husband languishes in Nigerian prison
All Crypto News Around The Globe

Binance CEO: 'Our commitment extends beyond mere compliance'

Webp teng 4
Binance CEO Richard Teng (left) speaking at Paris Blockchain Week 2024 | YouTube/SorobanDeveloper

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
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

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.

Nov 20, 2024

Crypto Comments
Loading...

No comments available.

Trending
1

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

2

UK’s digital assets bill brings much-needed clarity to digital asset regulation

3

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

4

OpenAI chooses Paris as its new home base

5

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