Binance holds off on US plans, waits for clarity despite ‘reset’
While Binance sees a “fresh reset” in the U.S., it is waiting for more clarity before making any decisions on its next steps there, the exchange’s CEO says.
Binance is taking its time with the U.S. market, with CEO Richard Teng saying the company is waiting for more clarity before making any big moves, even though the space has become more crypto-friendly under President Donald Trump.
In an interview with Bloomberg, Binance chief executive Richard Teng said that he sees things differently from a regulatory angle, pointing out the shift from the more hawkish stance under the Biden administration. During that time, U.S. regulators filed lawsuits against multiple crypto businesses like Coinbase, and Binance itself.
“I think we have a fresh reset and a restart,” Teng said in the interview. However, he added that Binance is still waiting for more clarity before deciding its next steps in the U.S.
He also mentioned that Binance is considering a few different locations for its operations and that the board expects to make a decision soon, though it’s unclear if that includes the U.S. or other places. Back in December 2024, Teng said the exchange was focusing more on “global deployment” than a return to the U.S. market.
Binance pulled out of the U.S. market in November 2023 as part of a $4.3 billion deal with the U.S. government over money laundering violations and operating as an unlicensed money transmitter.
