Binance Aids Countries in Bitcoin Reserve Management and Crypto Policies
Binance is aiding countries in managing Bitcoin reserves and developing crypto policies, according to CEO Richard Teng. This follows U.S. President Donald Trump's support for cryptocurrencies and the advancement of digital assets.
Teng stated in an interview that Trump's pro-crypto stance has influenced other governments. Binance is assisting multiple nations in crafting asset policies and accumulating reserves, though specific countries were not disclosed.
Recent collaborations include:
- Pakistan's government working with Binance on crypto policies.
- Kyrgyzstan seeking Binance's guidance for similar initiatives.
Teng indicated a shift from Binance's previous model of operating without a formal headquarters. The exchange plans to establish a global headquarters.
Trump’s Strategic Bitcoin Reserve
Since taking office, Trump signed an executive order to create a Strategic Bitcoin Reserve using BTC seized in federal cases. The U.S. currently holds $17.1 billion in cryptocurrencies. Supporters argue for increased Bitcoin holdings as an alternative to USD.
The inclusion of Bitcoin in strategic reserves signifies a positive regulatory outlook on cryptocurrencies. Trump's policies have prompted the SEC to pause investigations into Binance's operations in the U.S.