Cryptocurrency exchange Binance is actively consulting with multiple governments about establishing national Bitcoin reserves and developing cryptocurrency regulatory frameworks, according to recent statements from the company’s CEO Richard Teng.
In an interview with the Financial Times on April 17, Teng revealed that Binance has received numerous inquiries from governments and sovereign wealth funds interested in creating their own strategic cryptocurrency reserves.
JUST IN: Binance is advising several countries on establishing national strategic #Bitcoin Reserve: FT pic.twitter.com/Ijo6TrsFPo
— Bitcoin Magazine (@BitcoinMagazine) April 17, 2025
“We have actually received quite a number of approaches by a few governments and sovereign wealth funds on the establishment of their own crypto reserves,” Teng told the Financial Times.
Following the US Lead
According to Teng, the United States is “way ahead on that front” compared to other jurisdictions, with its increasingly crypto-friendly stance under President Donald Trump’s administration serving as a catalyst for other nations’ interest in the space.
Earlier this year, Trump signed an executive order to establish a Strategic Bitcoin Reserve for the United States, which would be seeded with Bitcoin forfeited in federal criminal and civil cases. Currently, the US controls approximately $17.1 billion worth of Bitcoin and other cryptocurrencies held on the Coinbase exchange, according to data from Arkham Intelligence.
This move by the US appears to have sparked interest globally, with Teng noting that Binance has “benefited greatly in the past few months from the policies coming out from the US.”
Also Read: Pakistan Appoints Binance Founder CZ as Strategic Advisor to National Crypto Council
From Legal Troubles to Government Advisor
Binance’s new advisory role comes less than two years after the exchange faced significant legal issues. In 2023, the company pleaded guilty to US criminal charges related to money laundering and breaching international sanctions, agreeing to pay more than $4.3 billion in penalties.
Following this settlement, founder Changpeng “CZ” Zhao stepped down as CEO and was replaced by Teng. Zhao later served four months in prison for his role in the violations.
Despite these past troubles, Binance has apparently repositioned itself as a valuable advisor to governments on cryptocurrency matters. Recent reports indicate that both Pakistan and Kyrgyzstan have announced collaborations with Binance and former CEO Zhao on developing crypto regulations and implementing blockchain technologies.
Building Compliance and Changing Structure
Teng emphasized that nearly 25% of Binance’s 6,000 employees now work in compliance, and the company plans to continue investing heavily in this area. He stated that Binance is now “in a form and shape that regulators appreciate much more compared to the past.”
In another significant shift, Teng indicated that Binance is “working very hard” on establishing a global headquarters for the exchange. This would mark a departure from its previous structure, as former CEO Zhao had insisted the company had no formal headquarters, famously stating in 2019 that offices and headquarters are “old concepts like SMS and MMS.”
“It requires serious deliberation and the board and the senior management are spending a lot of time doing the evaluation,” Teng said regarding the headquarters plans. “Hopefully we are able to announce our intentions on that front.”
The Case for National Bitcoin Reserves
Supporters of national Bitcoin reserves argue that countries should build stockpiles that could serve as alternatives to traditional currency reserves. Bitcoin proponents often compare the cryptocurrency to “digital gold” – an asset that cannot be devalued by central banks or government policies.
While Bitcoin reached a record high of $108,000 following Trump’s election victory in November, the price has dropped approximately 10% this year as momentum faded and investors sold risky assets due to concerns about Trump’s aggressive tariff policies.
The political climate shift has been favorable for Binance. The US Securities and Exchange Commission paused its investigation into Binance and its US arm after Trump’s inauguration, with the two sides working toward a potential resolution, according to Teng.
While Teng declined to identify specific countries that Binance is advising, the development represents a significant shift in how governments are approaching cryptocurrency assets, potentially signaling a new era of institutional adoption and regulation in the cryptocurrency space.
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