Richard Teng, CEO of Binance, will visit South Korea next week to press the case for stronger user protection and regulatory compliance. The trip will bring him to Seoul for talks with regulators, industry leaders and law enforcement.
Teng will speak at the World Knowledge Forum on Tuesday and deliver a keynote dialogue at Cyber Summit Korea 2025 on Wednesday, hosted by the National Intelligence Service.
Binance says the goal is to explore ways to cooperate and help build a sustainable crypto market in the country.
Engagements in Seoul
Teng plans a wide set of meetings while in Korea. He will meet policymakers, exchange operators and other stakeholders.
The sessions aim to map out practical steps for better oversight. Teng has said investor protection and cross-border cooperation are vital for the industry to win trust.
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Public recognition and police ties
Binance has moved to show its support for local enforcement. On Aug. 27, the company received a certificate of appreciation from the Korean National Police Agency at the 2025 International Symposium on Cybercrime Response.
That award recognised Binance’s role in preventing and responding to cyber and virtual asset crimes. It is the second such honour after 2023 and makes Binance the only overseas exchange to receive multiple certificates from Korean authorities.
Regulatory shift in Korea
The visit comes as Korea tightens rules and formalises its crypto framework. Regulators recently ordered local exchanges to stop all crypto lending services until clearer rules are in place.
At the same time, authorities are easing some barriers for institutions, and they are preparing to approve the country’s first spot crypto ETFs and are lifting limits on institutional trading. The government is also working on a stablecoin framework that would peg tokens to the Korean won.
GOPAX bid and market access
Binance’s move into Korea has hit roadblocks, and since 2023, the company has tried to acquire local exchange GOPAX as a way into the market.
Regulators have delayed approval for more than two years. That delay has effectively blocked foreign capital from entering Korea’s domestic crypto sector.
Binance says it is building cross-border cooperation frameworks with law enforcement. The exchange points to its awards as proof of closer ties. Korean authorities are also stepping up data collection.
Because of the growing crypto users in the country, plans are in motion to share foreign investor transaction records from local exchanges such as Upbit and Bithumb.
The government will also gather data on South Koreans who trade on overseas exchanges. That information will be shared with the National Tax Service starting next year.
Industry context and government intent
South Korea is pushing to balance risk control with wider adoption. The recent clampdown on lending aims to curb risky practices. At the same time, moves to permit ETFs and to design a won stablecoin show a more open stance.
President Lee Jae Myung’s administration appears ready to embrace regulated digital finance while tightening rules where needed.
What Teng says
Teng has framed his visit as a chance to advance investor safety and global cooperation. He said the industry can only gain trust through strong protections and joint work across borders.
He also noted Korea’s large role in the global crypto market and expressed a desire for deep discussions while he is in the country.
Observers will look for signs of progress on regulatory approvals and on any new cooperation pacts with Korean agencies.
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