Binance Aids Nations in Creating Bitcoin Reserves and Crypto Regulation
Cryptocurrency exchange Binance is negotiating with several nations to help them create strategic Bitcoin reserves and regulatory frameworks, CEO Richard Teng disclosed in a recent interview with the Financial Times.
Governments Seek Crypto Guidance Amid U.S. Policy Change
Governments and sovereign funds, following Teng, have also approached Binance for consultation on setting up digital asset reserves, as crypto-friendly sentiment grows in the United States.
“We actually have had fairly a number of approaches by several sovereign wealth funds and governments,” Teng said. He added that the U.S. is “way ahead on that front,” as examples include recent occurrences like an executive order by former President Trump to create a Strategic Bitcoin Reserve.
Pakistan and Kyrgyzstan Among Nations in Negotiations
While Pakistan and Kyrgyzstan have publicly engaged with Binance and former CEO Changpeng Zhao on crypto regulation, neither has officially launched Bitcoin reserve programs. However, the surge in foreign interest reflects a wider shift in digital asset policies.
Binance Seeks Global HQ During Strategic Change
The exchange is also moving away from its previous decentralized operations. Teng confirmed Binance is mulling over potential locations for an official global headquarters, a change of strategy since he took the helm.
“It requires serious consideration,” Teng said, stating that the board is weighing its options and is hoping to make concrete announcements in the near term.
Regulatory Clarity Driving Institutional Adoption
The change in Binance’s operating position is in line with increasing regulatory openness in key jurisdictions. The exchange, once criticized for operating without a de jure base, is now headed toward compliance as crypto adoption matures globally.
