Binance CEO Optimistic About U.S. Comeback Under Trump Administration

Binance CEO Richard Teng is hopeful that the crypto regulatory landscape in the U.S. will shift in a favorable direction with the new administration under President Donald Trump.

In a recent interview, Teng shared that the transition from restrictive policies to a more crypto-friendly approach gives him optimism about the possibility of Binance returning to the U.S. market.

Previously, under President Biden, the crypto space was marred by intense regulatory scrutiny, including multiple high-profile lawsuits against leading exchanges like Binance and Coinbase.

However, Teng sees a new opportunity under Trump’s leadership, with potential regulatory clarity on the horizon for the industry. Despite this, Binance US continues to await more guidance before considering a full U.S. return.

The U.S. SEC had filed a lawsuit against Binance US in mid-2023, accusing the exchange of mishandling customer funds and violating securities laws, which led to the suspension of operations.

Binance eventually reached a settlement, agreeing to pay $4.3 billion to resolve the case. While the company continues to battle the SEC on other fronts, the legal process has been temporarily paused while the SEC establishes a crypto-focused task force.