Binance CEO Richard Teng outlined a compliance-focused vision for the exchange during Korea Blockchain Week 2024 in Seoul. Speaking on September 3, Teng said Binance was still in the early stages of its compliance transformation but had made meaningful progress toward building a sustainable global platform.
Teng reportedly said Binance’s priorities included putting users first, meeting regulatory requirements across jurisdictions, and developing strategic partnerships. He also argued that regulators should create frameworks that protect users without preventing innovation and investment in the digital-asset industry.
The comments formed part of what Teng described as a transition toward “Binance 2.0” following the departure of Changpeng Zhao (CZ) as CEO.
Compliance became important to Binance’s transformation
Before Korea Blockchain Week, Teng had disclosed that Binance intended to direct a significant share of its hiring toward compliance. The company was working to expand its compliance organization while responding to a growing volume of requests from law enforcement agencies.
The amount of resources, talent, and effort that #Binance invests in proactively creating a more secure ecosystem is unparalleled. 💪
If you ask me, “Why Binance?” This is definitely one of the reasons. We always put the well-being of users and the industry first.
— Richard Teng (@_RichardTeng) August 21, 2024
Binance has since expanded that effort considerably. In a 2024 update, the exchange said it had more than 1,000 compliance staff and contractors and was targeting 645 employees in its core compliance team by the end of that year. Binance also said it continued hiring professionals from traditional finance, fintech, regulatory agencies, and law enforcement.
The scale of the compliance operation has continued to grow. In June 2026, Binance said it had more than 1,500 people working in compliance roles and had made major investments in compliance infrastructure and technology.
The exchange has also continued building direct relationships with regulators. In December 2025, Binance received full regulatory authorization from Abu Dhabi Global Market’s Financial Services Regulatory Authority for its global platform, with separate licensed entities covering exchange, clearing, and brokerage activities.
Also Read: Binance Set to Move User Assets From Funding Account to ‘Stocks Account’
“Binance 2.0” has become into a global infrastructure strategy
Teng’s 2024 comments also focused on Binance’s long-term expansion. At the time, he said the exchange wanted to grow its user base significantly while building a sustainable platform capable of serving users globally.
The company’s scale has since moved well beyond the figures cited during the original conference. Binance announced in July 2024 that it had surpassed 210 million users, while Teng has described the exchange as financial infrastructure rather than simply a crypto trading platform.
In May 2026, Teng said Binance had “pivoted very strongly” toward becoming global infrastructure and one of the most regulated exchanges globally. He pointed to the addition of talent from traditional finance, regulatory, control, and other functions as evidence of the organizational change.
Teng also acknowledged former CEO Changpeng Zhao’s contribution to Binance, describing him as a “very dynamic leader” and saying he was honored to lead the company through its next phase.
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