Binance Chief Backs US Crypto Regulation Overhaul, Eyes Global Standard
Main Idea
Binance CEO Richard Teng supports U.S. efforts to modernize crypto regulation, highlighting initiatives like Project Crypto and the GENIUS Act as steps toward clear standards and innovation-friendly oversight.
Key Points
1. Richard Teng endorses U.S. regulatory modernization efforts, including Project Crypto and the GENIUS Act, for their modular approach to digital-asset oversight.
2. Project Crypto's safe harbor principles and 'super-app' licensing model are seen as breakthroughs that could reduce barriers and streamline compliance.
3. Teng emphasizes the potential global impact of U.S. leadership in establishing responsible, innovation-friendly crypto regulations.
4. Binance advocates for clear rules on custody, disclosures, and anti-money laundering (AML), aligning with priorities validated by Project Crypto.
5. Teng commends regulatory progress but notes the importance of sustainable collaboration with teams and communities driving the mission.
Description
The U.S. is poised to redefine global crypto regulation with a groundbreaking framework enabling clear token standards, innovation pathways, and compliance models tailored to blockchain’s real-world dynamics. Binance Boss Sees US Setting Global Standard With Innovation-Friendly Regulation Binance chief executive Richard Teng outlined his support for U.S. efforts to modernize digital asset oversight on social
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