Binance was approached by governments for assistance in establishing Bitcoin reserves and crafting crypto regulations following its shift to a compliance-first organization, less than 18 months after the company pleaded guilty to criminal charges related to money laundering and sanctions violations, paid over $4.3 billion in penalties

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The news comes less than 18 months after Binance pleaded guilty to criminal charges related to money laundering and breaching international financial sanctions, and agreed to pay more than $4.3bn in penalties. Co-founder and chief executive Changpeng Zhao stepped down and was replaced by Teng. Zhao later served four months in prison.

Binance’s advisory role comes at a time of significant change within the company. Once seen as a defiant player in the crypto space, the exchange has rebranded itself as a compliance-first organization. Teng explained that Binance had invested heavily in regulatory alignment. Out of its 6,000 employees, roughly 1,500 now work in compliance. This shift has helped the exchange gain renewed trust among global regulators. The company is also considering launching a permanent global headquarters, which would be a notable departure from its historically decentralized structure.