Richard Teng: Playing Both Sides of the Crypto Regulation Game

I've been watching this Teng character since he took over that massive exchange after his predecessor went to jail. What a clever act he's putting on! While claiming regulatory pressure is "positive," what he's really doing is trying to save face while desperately keeping his platform relevant as governments close in.

"Pressure isn't a threat—it's maturity," he claims. Yeah right. Easy to say when you're running the biggest exchange that's already paid billions in fines! The way I see it, this is just damage control after years of operating in regulatory gray zones.

Let me tell you what's really happening here. This Butan partnership he's touting? It's a tiny market that barely registers globally. But it makes for good PR to distract from the real issues. Meanwhile, they're "supporting governments with Bitcoin reserves"—translation: they're desperately trying to get close to regulators who might shut them down tomorrow.

The most laughable part is his claim that "regulation drives institutional adoption." What he conveniently omits is that his platform became the industry giant precisely by operating with minimal oversight for years! Now that they've built their empire, they suddenly love regulation? How convenient.

I've been in crypto since 2015, and I can tell you—exchanges like his only embrace regulation when forced to. Remember how they operated before? Moving jurisdictions whenever things got too hot? Now they're painting themselves as compliance champions!

Trump's pro-crypto stance has given them breathing room, but don't be fooled. These exchanges will push back against any meaningful consumer protections while publicly claiming to welcome them.

And that line about "when the US leads, others follow"—pure theater to curry favor with American regulators who've been breathing down their neck.

The truth? This isn't about protecting users or improving the ecosystem. It's about surviving in a world where their old business model no longer works. They're not leading regulatory conversations—they're desperately trying to shape them before they lose control.

#BTC