Binance has been advising multiple governments on establishing strategic Bitcoin (BTC) reserves and formulating crypto asset regulations, Teng said in an interview with the Financial Times on April 17.“We have actually received quite a number of approaches by a few governments and sovereign wealth funds on the establishment of their own crypto reserves,” Teng told the FT.
Related: Crypto Biz: Ripple’s ‘defining moment,’ Binance’s ongoing purge“It requires serious deliberation and the board and the senior management are spending a lot of time doing the evaluation,” Teng reportedly said, adding: “Hopefully we are able to announce our intentions on that front.”Source: Changpeng “CZ” ZhaoIn 2019, Zhao said that offices and headquarters are “old concepts like SMS and MMS.”The shift comes as more jurisdictions adopt clearer frameworks for regulating crypto businesses.
Teng did not identify any countries but said that the United States is “way ahead on that front.”US fuels global crypto reserve spreeAccording 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.
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