Binance chief executive Richard Teng outlined his support for U.S. efforts to modernize digital asset oversight on social media platform X last week. He argued that the country is shifting from adapting decades-old securities rules to a framework that better reflects the realities of blockchain markets.
“The U.S. is finally moving beyond trying to retrofit 80-year-old securities laws to blockchain technology. The combined force of Project Crypto, the GENIUS Act, and the market structure bills being debated in Congress, introduces a modular, layered approach to digital-asset oversight,” the Binance executive wrote, adding:
That means clear token classification standards, sandboxed pathways for compliant innovation, and licensing structures that reflect how crypto markets actually operate.
Teng described Project Crypto’s safe harbor principles as a significant breakthrough: “Project Crypto’s proposed safe harbor principles can prove a game changer. It allows token projects to develop with regulatory breathing room (subject to disclosures and compliance benchmarks, of course) rather than fearing immediate enforcement. This shift will materially reduce the legal risk that has stifled U.S. developers and driven talent offshore.” He also stressed that clearer custodial, staking, and segregation rules could remove a key institutional barrier, while the proposed “super-app” licensing model could streamline compliance and improve user protection.
The Binance boss emphasized the potential for international impact, stating:
If implemented, Project Crypto could set a global benchmark. Jurisdictions around the world have looked to the U.S. for leadership, what they now see is a serious commitment to building responsible, innovation-friendly regulation.
“It’s a step forward for the entire ecosystem. At Binance, we’ve long advocated for clear rules on custody, disclosures, and AML. Project Crypto validates many of these priorities. We commend Chairman Atkins and the SEC staff for engaging with industry and recognizing the need for modern regulatory tools,” he noted. On Aug. 11, Teng shared on X: “We work with regulators, developers, industry partners to grow crypto, responsibly and sustainably. Grateful for our team & community driving this mission!”
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