The Cryptocurrency Exchange Binance is involved in discussions in the establishment of strategic digital assets along with several countries, its CEO, Richard Teng, has been reported.
Binance has been advises Multiple Governments in Establishment of Strategic Bitcoin (Btc) reserve and formulation of crypto asset regulations, Teng said in a interview with the Financial Times on April 17.
“We have actually received a large number of techniques of some governments and Sovereign wealth funds in establishing their own crypto reserves,” Teng told FT.
Teng did not recognize any countries but said the United States was “the way before that.”
US Fuels Global Crypto Reserve Spree
According to Teng, the main reason for governments approaching Binance for help in handling potential strategic reserves is the new crypto-friendly agenda in the US.
Teng has identified major US crypto policy developments, such as discussions around the creation of a national Bitcoin reserve and Digital Asset Stockpile. Earlier this year, Trump signed an executive order that Establish a strategic bitcoin reserve Seeded with BTC has lost a federal criminal and civil case.
While Pakistan and Kyrgyzstan governments have announced Cooperation with Binance and former CEO Changpeng Zhao in crypto regulations In recent weeks, none of the constituents have mentioned the plans of the crypto reserve on their agenda.
Binance is changing stance at the headquarters
As Binance deepens its involvement in efforts to help countries set up crypto reserves and regulations, it appears to have moved away from its informal headquarters approach under Zhao.
According to Teng, Binance is “working hard” in plans for a global headquarters for the exchange.
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“It requires serious consideration and the board and the senior management spend a lot of time doing the review,” Teng said, added: “Hopefully we will express our goals in front of that.”
In 2019 Zhao Says Offices and head officers are “old concepts like SMS and MMS.”
The shift came as more jurisdictions that adopted clearer frameworks for regulating crypto businesses. Binance is subject to Strong investigation and investigation by many governments in 2020.
Cointelegraph approached Binance for a comment on the cooperation of crypto policy with governments around the world, but did not receive a response at the time of publication.
