Former Abu Dhabi regulator Richard Teng is poised to succeed changpeng zhao as Binance’s head of international markets.
This move follows CZ’s decision to reduce his ownership in Binance.US, the firm’s American arm, as a gesture towards U.S. regulators. Teng’s extensive regulatory experience will be crucial as he takes on the responsibility of managing Asia, Europe, the Middle East, and North Africa for Binance.
Teng dismissed speculation about his future role, emphasizing the strength of Binance’s management team and his support for the company’s agenda.CZ had previously stated that a succession plan was in place when Teng was hired in 2021.
Insiders and regulators have privately discussed Teng as the leader who could effectively continue building Binance’s vision and bridge the gap between the crypto industry and regulators.
Teng believes that Binance has been transparent about its past issues and acknowledges the company’s young age, starting as a technology firm in an era with limited regulations. Binance has made significant strides in compliance, employing approximately 750 compliance officers, the highest number among exchanges.
Teng is committed to addressing policy issues responsibly and demonstrating that Binance has transformed into a new organization.
As the crypto industry evolves, regulatory developments and shifts in jurisdictions are reshaping the landscape.
Teng emphasizes Dubai’s aspiration to create a specialized crypto regulatory agency and Europe’s advancements with the MiCA framework, particularly highlighting Paris as a favored destination for crypto companies expanding within Europe.
Richard Teng’s appointment as overseer of Binance’s global markets outside the U.S. positions him as a potential successor to CZ. With his regulatory background and Binance’s commitment to compliance, the exchange is poised for growth under Teng’s leadership.
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