Richard Teng, the newly appointed CEO of Binance, delivered a keynote speech at the Taipei Blockchain Week. With the improvement of industry regulation and the participation of institutional investors, Richard sees a promising future for the development of the virtual asset industry and praises the vitality of Taiwan’s Web3 community. He promises to continue collaborating with the community and all industry participants to bring greater prosperity to Taiwan’s Web3 ecosystem.
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Richard Teng’s First Participation in a Major Asian Web3 Conference
Clear Regulation Brings Confidence to Users
The Asia-Pacific Region is Crucial for Blockchain Development
Taipei Blockchain Week is Richard Teng’s first participation in a major Asian Web3 conference since becoming CEO of Binance. He delivered a keynote speech titled “Guiding the Next Billion Users into Web3.” Unlike most Web3 industry CEOs, Richard has a strong background in traditional finance and regulation. He has been one of the few regulators to oversee virtual assets globally, and he plans to leverage his accumulated experience over the past thirty years to help Binance continue its growth.
Regarding the future prospects of virtual asset development, Richard points out that as industry regulation matures and top global financial institutions enter the blockchain and Web3 field, it will greatly promote the widespread adoption of virtual assets. The growth rate in the future is expected to surpass that of the past five years. He further explains that clear regulation can build more confidence for users and bring more transparency to the industry. With regulation in place, more institutional investors will join, bringing new funds, liquidity, users, and product innovation to the industry. These two factors play a crucial role in mass adoption.
In terms of regulation, Richard also emphasizes the importance of collaborating with regulatory authorities. He states that Binance actively engages in communication with regulatory units in many jurisdictions worldwide that are interested in regulating virtual assets, helping them understand the potential of this technology and how to introduce investments and create talent pools. At the same time, it helps law enforcement agencies understand how blockchain can combat crime. Binance has also conducted multiple blockchain law enforcement trainings in Taiwan to dispel misconceptions and misunderstandings about the industry, facilitating its positive and stable development.
Richard also expresses his positive outlook on the development of virtual assets in the Asia-Pacific region. He points out that the region is an important area for the future development of the industry, with rapid development in many aspects. Taiwan, for example, has a vibrant Web3 community, and in terms of regulation, apart from Taiwan, countries such as Japan, Singapore, and Hong Kong have also started industry regulation. This trend is happening in various regions globally.
Richard points out that the industry is changing rapidly, making it difficult to predict what innovations will emerge in the future. However, Binance will closely monitor all developments, continue learning and innovating, and invest in the entire Web3 industry. He also looks forward to closer collaboration with Taiwan’s partners, regulatory authorities, and policy makers to bring greater prosperity to Taiwan’s Web3 ecosystem. Meanwhile, Binance will adhere to compliance, achieve sustainable development, and move towards a longer-term future.
Richard Teng
Web3
Binance