Binance, the world's largest cryptocurrency exchange, has revealed that its CEO Richard Teng recently met with Chief Prosecutor Chang, Tou-Hui of Taiwan's High Prosecutor's Office. The meeting aimed to explore potential collaboration in preventing cybercrime.
According to a post on Binance's website, Teng and a delegation from the company met with the chief prosecutor on March 22. The discussion focused on preventing crimes related to digital assets and expanding cooperation to tackle such crimes. "Our cooperation with Taiwan law enforcement agencies is one of the concrete actions to fulfill this commitment, and we appreciate the strong support from the High Prosecutor Office of Taiwan," said Teng.
The same post highlighted Binance's "strong record of productive cooperation" with Taiwan's law enforcement agencies. As part of its global law enforcement training program, Binance has conducted training sessions for over 1,000 law enforcement officers in Taiwan. Despite virtual assets-related crime constituting a small share of overall financial crimes, Binance expressed its commitment to continue safeguarding user assets and building a safer and more trustworthy virtual assets ecosystem.
Chief Prosecutor Chang reciprocated the sentiment by acknowledging Binance’s long-term support and assistance towards Taiwan's law enforcement agencies. He specifically noted their contribution through educational training programs that help prosecutors understand virtual assets more comprehensively and cope with challenges posed by emerging technology. "By strengthening the cooperation between law enforcement agencies and industry players, we look forward to establishing a closer joint defense mechanism to achieve the goal of safeguarding public safety and combating crime," said Chang.
Prior to joining Binance in August 2021, Teng held several prestigious positions including CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Chief Regulatory Officer of the Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore, as stated on Binance’s website.
Binance was launched in 2017, according to CoinMarketCap. As of August 2022, it boasted a daily trading volume of approximately $76 billion, making it the largest crypto exchange globally. The platform lists more than 350 tokens and enables users to buy, sell, and store digital assets.