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Binance CEO on U.S. Market: Waiting for Clarity Before Next Steps
Binance, a leading cryptocurrency exchange, is taking a cautious approach to re-entering the U.S. market. CEO Richard Teng stated that the company is waiting for more clarity on regulations before making any significant decisions.
In an interview, Teng noted that the U.S. has become more crypto-friendly under the current administration, but the company is still assessing the regulatory landscape. This shift in stance is a significant change from the more hawkish approach under the previous administration, during which U.S. regulators filed lawsuits against several crypto businesses, including Coinbase and Binance.
“I think we have a fresh reset and a restart,”
Teng added that Binance is considering various locations for its operations and expects to make a decision soon. However, it is unclear whether this decision will include a return to the U.S. market or expansion into other regions. Previously, in December 2024, Teng mentioned that the exchange was focusing on global deployment rather than re-entering the U.S. market.
Binance’s U.S. Market History
Binance withdrew from the U.S. market in November 2023 as part of a $4.3 billion deal with the U.S. government, resolving money laundering violations and operating as an unlicensed money transmitter. The company is now taking a cautious approach to re-entering the market, awaiting clearer regulations before making its next move.
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