Richard Teng, Chief Executive Officer of Binance, has expressed that new U.S. crypto legislation lays the groundwork for institutional trust, regulatory clarity, and global industry alignment. The statement was made on X.
"Crypto's mainstream moment depends on trust, and trust depends on clear rules," said Teng. "Stablecoins now have a legal pathway. Compliance will unlock opportunity in the world's largest market. Binance welcomes U.S. bipartisan efforts toward clear, rule-based regulation."
Teng was discussing the GENIUS Act and CLARITY Act, which represent a significant shift in U.S. crypto regulation by providing formal legal structures for stablecoins and digital asset oversight. According to BeInCrypto and CryptoNews, the GENIUS Act, signed in July 2025, mandates full reserves, licensing, and audits for U.S. dollar–pegged stablecoins. Meanwhile, the CLARITY Act clarifies the jurisdictions of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). As reported by the National Law Review, these acts reduce regulatory ambiguity and are expected to attract institutional investors seeking clearer compliance rules.
Stablecoin usage in the U.S. has seen rapid growth, particularly in retail and cross-border payments. PaymentsCMI and Coinbase report that monthly stablecoin transaction volumes reached $625 billion by early 2025, marking a 21% increase from the previous year. In total, over $6.3 trillion was settled via stablecoins in the past 12 months due to remittance demand and digital wallet integrations.
Institutional crypto adoption in the U.S. has surged since the passage of the GENIUS Act. According to TheStreet and AInvest, more than 50% of U.S. asset managers now plan to launch crypto funds by 2026. In July 2025 alone, there were $7.2 billion in institutional Bitcoin ETF inflows, reflecting increasing confidence from hedge funds and pension groups following clearer legal guidelines.
Teng has over 30 years of financial and regulatory experience. FinNotes reports that he previously served as Director of Corporate Finance at the Monetary Authority of Singapore and CEO of Abu Dhabi Global Market before joining Binance in 2021 and becoming its global CEO in 2023.
Binance was founded in 2017 by Changpeng Zhao and quickly became the world’s largest crypto exchange by volume within months. According to Binance’s official site, it now operates globally offering trading, education, and compliance tools while emphasizing proof-of-reserves, regulatory partnerships, and transparent practices to serve millions of users worldwide.