The earlier US regime has been criticised sharply by many crypto enterprise leaders for the oppressive method it dealt with cryptocurrency laws. Throughout a media interplay on the sideline of the Consensus Crypto Conference in Hong Kong, Binance Holdings Chief Government Officer Richard Teng additionally expressed an identical view in regards to the earlier regime, led by joe biden 
joe biden Joe Biden President 
Nonetheless, he said that the brand new US regime, led by Donald Trump 
Donald Trump Donald Trump is an American former president politician, businessman, and media character, who served because the forty fifth president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the College of Pennsylvania in 1968. Trump received the 2016 presidential election because the Republican Get together nominee towards Democratic Get together nominee Hillary Clinton whereas dropping the favored vote. As president, Trump ordered a journey ban on residents from a number of Muslim-majority nations, diverted army funding towards constructing a wall on the U.S.–Mexico border, and applied a household separation coverage. Trump has remained a outstanding determine within the Republican Get together and is taken into account a possible candidate for the 2024 presidential election President has helped the crypto trade escape from the oppressive construction of the previous. Let’s perceive what this enterprise chief thinks in regards to the current crypto regulatory strategy within the US, in addition to Hong Kong. Prepared?
US Crypto Regulation: A New Daybreak?
Teng identified how the earlier regime attacked outstanding cryptocurrency corporations, corresponding to Binance, Coinbase and Ripple, utilizing advanced lawsuits and hefty fines.
Expressing his robust confidence within the present US regime led by Trump, Teng said: “I believe we’ve a recent reset and a restart.”
Throughout the US election marketing campaign itself, Republican chief Trump projected himself as a pro-crypto chief and promised to usher in pro-crypto insurance policies for the way forward for the crypto trade.
Naturally, his victory within the US election towards Kamala Harris, who represented a crypto-skeptic regime, was obtained enthusiastically by the crypto trade. Importantly, virtually all of the top-ten cryptos have seen large progress since then.
Shortly after his inauguration, the Trump administration established a Crypto Job Power below the US SEC to develop a transparent crypto regulation framework.
Furthermore, from the SEC Chair to the Commerce Secretary, Trump has nominated pro-crypto leaders to key White Home positions.
Binance’s Future within the US Market
Binace closed down its US operations in June 2023, shortly after the US SEC filed a lawsuit towards the trade and its then-CEO changpeng zhao 
changpeng zhao Changpeng Zhao is the Founder and Chief Government Officer at Binance. His contribution to the enhancement of Binance made the platform the world’s largest cryptocurrency trade since its inception in 2017. Zhao launched the blockchain community Binance Sensible Chain which has made a outstanding contribution to the event of the decentralized finance ecosystem. Whereas in 2019, he launched Binance’s US affiliate, Binance. The US.
Particulars: Group: Binance
Location: United Arab Emirates
Abilities: Buying and selling System and Digital Buying and selling Expertise: CEO at Binance from Jul 2017 to Nov 2023 ·
Founder at BijieTech from Sep 2015 to Jul 2017
Head of Growth at Blockchain.com from 2013 – 2014 ·
Accomplice at Fusion Techniques Group from Nov 2005 to Dec 2013
Head of Tradebook Futures Growth at Bloomberg from 2001 – 2005 FAQ
1. What’s the web value of Changpeng Zhao?
Changpeng’s web value is $6,260 crores.
2. What are the most recent investments of Changpeng Zhao?
Changpeng Zhao investing within the blockchain sector in addition to synthetic intelligence and biotechnology
EntrepreneurInvestorChief Government Officer 
accusing them of mishandling funds, deceptive traders and breaking securities legal guidelines.
Regardless of the shift within the US political strategy to crypto regulation, Binance is much less more likely to rush again into the US market. Teng hinted that the corporate is ready for extra readability from US regulators earlier than making any selections about its future within the US market.
It’s clear that proper now Binance is preoccupied with the duty of reshaping its model picture, which suffered a critical blow attributable to its authorized battle with the SEC.
Hong Kong’s Crypto Ambitions Face Challenges
Hong Kong is planning to place the city-state as a regional crypto hub. Throughout the Consensus Convention, the city-state’s finance secretary enumerated the important thing initiatives taken by the administration to realize its crypto hub objective.
Nonetheless, Teng expressed reservations about a number of the native laws, like restrictions on tradable tokens and limitations on futures buying and selling.
Apparently, Binance has not but filed an software for a crypto license in Hong Kong.
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