BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Binance’s US Settlement Marks a New Chapter of Regulation and Maturity

by Drop Gorn
April 11, 2024
in CRYPTO
Reading Time: 3 mins read
A A
xr:d:DAGCFeuEmsc:12,j:4377923347019496693,t:24041106

xr:d:DAGCFeuEmsc:12,j:4377923347019496693,t:24041106

1
SHARES
22
VIEWS
Share on XShare in TelegramShare on Reddit
  • Binance’s $4.3 billion settlement with the US was a “turning page” for the exchange, embracing regulation
  • Catherine Chen, head of institutional and VIPs at Binance, said the settlement’s compliance monitoring is “welcome” and will provide clarity for users
  • Binance’s new CEO Richard Teng stated the exchange is looking for a global headquarters and is in discussions with jurisdictions

Binance’s record $1 billion settlement with US regulators last November marked a turning point for the crypto exchange. The settlement signaled Binance’s embrace of regulation as it seeks to build trust and maturity in the nascent crypto industry.

Catherine Chen: Settlement Was a “Great Thing”

According to Catherine Chen, Binance’s head of institutional business, the settlement’s required independent monitor was “frankly a great thing from my perspective.”

Chen welcomed the increased regulatory clarity and oversight, saying it will help Binance users feel “a lot more comfortable” with crypto investing. She brushed off concerns about performance, claiming Binance had been preparing for this shift.

“It is a challenge, but it’s a welcome challenge and we fully embrace it because we know that that would be great for the market,” Chen said at a panel during Paris Blockchain Week.

Binance Aims for Greater Maturity Under New Leadership

The settlement saw Binance founder Changpeng Zhao step down as CEO. He pled guilty to failing to maintain an anti-money laundering program.

New CEO Richard Teng said Binance has moved past its earlier “certain fashion” of operating and is embracing greater maturity. The exchange is now looking for an official global headquarters, speaking with multiple jurisdictions.

Regulators Still Pursuing Other Charges

However, the settlement did not end Binance’s legal troubles. The SEC continues to pursue charges that Binance sold unregistered securities and mishandled customer funds.

While regulatory storms continue brewing, Chen and Teng’s remarks signal Binance accepts the need for change as crypto goes mainstream. Their statements mark a new chapter for the exchange, with an eye toward operating with greater transparency and compliance.

Conclusion

Binance’s giant settlement was a watershed moment for crypto’s leading exchange. Despite ongoing legal battles, Binance appears to have embraced the regulatory push. Its new leadership aims to chart a path toward crypto’s maturation, even if it means added burdens like independent monitoring. If Binance succeeds, it could boost trust and adoption for the broader crypto ecosystem.

Tags: BinanceCatherine ChenChangepeng ZhaoRichard Tengsec
TweetShareShare
Previous Post

Unsustainable Deficit and Inflation Means More Demand for Bitcoin, Says Grayscale

Next Post

The Retail Investor Rush: Bitcoin ETF Inflows Remain Overwhelmingly Retail

DON'T MISS THESE! HOT OFF THE PRESS

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules
CRYPTO

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Connecticut Bans Bitcoin and Crypto for Government Funds
BITCOIN

Connecticut Bans Bitcoin and Crypto for Government Funds

July 1, 2025
Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme
CRYPTO

Shiba Inu: Turning $3,000 into $10,000 – The Math Behind the Meme

July 1, 2025
Load More

Related News

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
SEC Plans Shortcut for Crypto ETFs With New Listing Rules

SEC Plans Shortcut for Crypto ETFs With New Listing Rules

July 1, 2025
Donald Trump Threatens Elon Musk with DOGE Audit

Donald Trump Threatens Elon Musk with DOGE Audit

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.