But do you want to have difficulty in bringing a new era in Binance when the founder, who is synonymous with the company but is the largest shareholder?
We are very clear about what we are trying to build: the best platform in class, sustainable and global. Once again, I worked very closely with senior management and management on that front.
How do you want people to think about the difference between the Cz era and the Richard Teng era?
CZ started building the company in 2017, when the landscape was completely different: no organization accepted this, and there was no rules and regulations. It is a very different environment.
When I take over, we have to adjust the company with the new environment, one will follow more in nature. There will be much more clarity in terms of regulations, although there will be inconsistency and lack of harmony (between legal areas.)
We have invested a lot in our compliance program. We are currently the most regulated exchange globally, with twenty -one approval according to different regulations. This is the road ahead.
What specific changes have you done to make sure that the things have made it difficult for Binance in the past, which has made CZ serve the time of imprisonment without being able to recover at the company?
Last year, I believe we organized nearly one hundred courses and programs for law enforcement agencies for investigating techniques. Crypto is a technology that can be traced. We want to highlight these technologies to prevent, detect and prevent bad agents in space.
We want to work very closely with competitors and law enforcement agencies globally to ensure that we have a sustainable future and can stay away from all immortal financial crimes. This legal.
According to an agreement with the US Department of Justice, Binance must submit to the supervision of external agencies. What does that look from a realistic point of view?
We have two external screens: one appointed by Doj and one by the network of financial crime execution. We work closely with both sets.
Our benefits are linked: to ensure that we invest and strengthen our compliance program. If there is any blind spot that we do not receive, the monitors will be there to help. They go through what we have, require data and make recommendations on the areas we need to improve.
For me, it is very helpful, because it is not only we hit our chest, but also an independent lens to say that we are doing all the right things.
In the past, Binance chose himself as a global company without its headquarters. How has that changed under your leadership?
This is something we are paying for a lot. When we are regulated globally, the two basic things that regulators will request for a board of directors that we have appointed and a global headquarters.
The discussions (through the position of the global headquarters) must be complicated, with many factors: whether we can rely on our talent in that country, what is the legal framework, etc. But we are discussing deeply with some legal areas.