Binance quickly moved, broke things – and paid the price. Richard Ting cleans

But do you expect to find it difficult to create a new era in Binance when the founder – who is synonymous with the company – will cancel the largest shareholder?

We are very clear regarding what we are trying to build: a better platform in its class, sustainable and global. Again, I work closely with the senior management and the board of directors on that front.

How do you want people to think about the difference between the era of CZ and the Richard Ting era?

CZ started building the company in 2017, when the scene was completely different: there were no institutions to adopt this, and there were no rules and regulations. It was a very different environment.

When Toulina, we had to adapt the company to the new environment – those that will be more compatible in nature. There will be much more organizational clarity, although there will be a contradiction and a lack of consensus (between the judicial states.)

We have invested greatly in our compliance program. We are now the most organized stock exchange in the world, with twenty -one different organizational approval. This is the way forward.

What are the special changes that you have applied to make sure that the types of things that have fallen into a problem in the past – that led to Check Check Bajir to submit prison time – repeated in the company?

Last year, I think we have held nearly one hundred different courses and programs for law enforcement agencies on investigation technologies. Crypto is a technique that can be tracked. We want to highlight the ways of using this technology to deter, discover and prevent bad actors in space.

We want to work closely with our competitors and law enforcement agencies worldwide to ensure that we have a sustainable future and we can maintain all these illegal financial crimes.

Under the settlement with the US Department of Justice, Binance must undergo supervision by external bodies. How does this look like a practical perspective?

We have two groups of external screens: one appointed by the Ministry of Justice and one through the financial crime enforcement network. We are working closely with both groups.

Our interests are aligned: to ensure that we are invested in the compliance program and its promotion. If there are any blind points that we do not pick up, the compliance monitors are present for help. They go through what we have, request data, and make recommendations about the areas we need to improve.

For me, it is very useful, because not only we hit our chest, but we have an independent lens to say that we are doing all the right things.

In the past, Binance threw itself as a global company without headquarters. How did this change under your leadership?

This is something that we pay attention to. With our organization at the global level, the two main things that the organizer will request is the board of directors – which we appointed – and a global headquarters.

Delications (above the global headquarters location) are necessarily complicated, with multiple factors: whether we can build our talents in this country, what is the organizational framework, etc. But we are in a deep discussion with many judicial states.