BINANCE IS REPORTEDLY ADVISING GLOBAL GOVERNMENTS ON SETTING UP STRATEGIC BITCOIN RESERVES

Cryptocurrency exchange Binance is involved in discussions on establishing strategic digital asset reserves with several countries, its CEO, Richard Teng, reportedly said.

Binance has been advising multiple governments on establishing strategic Bitcoin reserves and formulating crypto asset regulations, Teng said in an interview with the Financial Times on April 17.

“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 FT.

Teng did not identify any countries but said that the United States is “way ahead on that front.”

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