Richard Teng, CEO of Binance, the world’s largest crypto exchange, has called the SEC’s decision to withdraw the 2023 lawsuit «a radical change» — a 180 degrees change.
«We are very thankful to Chairman Paul Atkins of the US SEC, President Donald Trump and his administration for having very thoughtful, very considerate approach in terms of crypto formulation: choosing to support innovation instead of stifling it,» Teng said.
He noted that this is a great victory not only for Binance as a company, but also for the crypto industry as a whole.
Teng said that Binance is closely monitoring rule proposals in the US, such as the stablecoin bill and cryptocurrency regulation.
Under Teng’s leadership, Binance recently reached 275 million registered users. This was achieved, among other things, thanks to new products: Super Earn, Binance Square, and Binance Alpha 2.0.
The exchange recalled that the SAFU Fund, a one billion dollar reserve for compensation in the event of a security breach, was created to protect users.
Source: The Street