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Richard Teng, CEO of the world’s largest cryptocurrency exchange, Binance, believes the trading giant is past the cultural issues after it settled criminal charges from the United States Department of Justice with a $4.3 billion fine.with CNBC, Teng said Binance had moved past the early stage of its development, where there were no clear rules, and it had to operate in a certain way to stay relevant.
“In those very early stages of development, Binance was operating in a certain fashion. But we have moved past that as the company moves into greater maturity. We are looking at sustainability; the direction of travel is very clear towards much more compliance, which is why we’re building up a very robust compliance program,” Teng stated.sentencing on April 30, Binance has created its first board of directors, comprising non-executive members and insiders, including Teng.
Meanwhile, Binance is still in search of a global headquarters, according to Teng. However, the process requires a lot of consideration as the exchange seeks a location with a favorable regulatory framework and good living conditions for its employees.AI Will be One of those Areas Where Blockchain has Genuinely Improved: Flare Network’s CEO Hugo Philion One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted.
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