Richard Teng, CEO of Binance, emphasized the importance of partnerships with agencies such as Thailand's Central Investigation Bureau (CIB) to enhance safety and trust in the cryptocurrency sector. This statement was made on March 3.

"Honored by this recognition from Thailand's CIB," said Teng. "These partnerships are essential to building trust in the digital asset ecosystem. Our investigations team works tirelessly with law enforcement globally to make crypto safer for everyone."

Teng's comments come in response to a recent collaboration between Binance and Thailand's Bureau of Human Trafficking Crime, CIB, and Cyber Crime Investigation Bureau (CCIB). These joint efforts aim to tackle scams and improve security measures within Thailand's digital finance sector. The partnership underscores a robust public-private initiative designed to make the cryptocurrency space safer.

Binance's official blog notes that Teng has over three decades of experience in financial services and regulation. Before his role at Binance, he served as the Chief Regulatory Officer at the Singapore Exchange (SGX) and held senior positions at the Monetary Authority of Singapore (MAS), where he focused on financial oversight and market development.

According to its website, Binance is recognized as the world’s leading blockchain ecosystem and the largest digital asset exchange by trade volume. The platform handles an average daily volume of $65 billion and completed 300 billion spot transactions in 2022. Binance provides services including trading, blockchain education, research, venture capital, and a non-profit charity initiative.