Richard Teng, the new CEO of Binance, is steering the crypto exchange towards greater compliance and transparency following the legal issues faced by his predecessor, Changpeng Zhao (CZ). Teng emphasizes a new era of regulation and collaboration with law enforcement to prevent illicit financial activities.
Richard Teng would rather not be compared with Changpeng Zhao , his predecessor as chief executive at crypto exchange Binance . He intends to wear his own shoes, he says, not fill anybody else’s. Teng took charge at Binance in November 2023 after Zhao—who goes by CZ—pleaded guilty to violating anti-money laundering laws and US sanctions.
We want to highlight the ways to use this technology to deter, detect and prevent bad actors in the space. We want to work very closely with our competitors and law enforcement agencies globally to make sure that we have a sustainable future and can keep out all these illicit financial crimes. Under the settlement with the US Department of Justice, Binance has to submit to oversight by external bodies.
Technology Cryptocurrencies Binance Richard Teng Changpeng Zhao Cryptocurrency Regulation Compliance Anti-Money Laundering
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