David Edwards
Binance.US Interim CEO Norman Reed has articulated his vision for digital assets as a cornerstone of the mainstream financial ecosystem, reflecting on the platform’s challenges and ambitions for 2025. Reed highlighted the bitcoin industry’s long-term promise and resiliency in the face of governmental scrutiny in a recent blog post.
We expect digital assets to become an important part of the ‘mainstream’ financial ecosystem in the U.S. and around the world. The long view is to think of crypto as an ascending staircase where each cycle builds upon the last.
These remarks are made in the midst of Binance.US’s continuing legal dispute with the SEC, which was started in 2023 when the SEC filed civil claims against the company.
Evaluation of Regulatory Obstacles
Reed voiced harsh disapproval of the SEC’s conduct, contending that the bitcoin sector has suffered and that the agency’s present strategy has inhibited innovation.
“Ultimately, I strongly believe that the current SEC administration’s actions have not only failed to uphold the agency’s founding principles, but also caused significant harm to American consumers and the crypto industry, including Binance.US,” he said.
Reed emphasized the company’s tenacity in the face of these regulatory obstacles, pointing out that the SEC had not produced any proof of misconduct.
“But at the end of the day, I take comfort in knowing these facts: We’ve survived the SEC’s overreach.” He further noted: “Tellingly, the SEC has not presented any evidence of wrongdoing to date despite maintaining a careful watch over the company.”
Hope for Upcoming Regulation
Reed expressed optimism that the regulatory landscape will be more positive, especially with possible new SEC leadership. He cited Paul Atkins’ potential appointment as SEC chairman as a step in the right direction for the sector.
In the meantime, we welcome a clear and practical regulatory framework for digital assets in the U.S. I am hopeful that the nomination of Paul Atkins as the next Chairman of the SEC will bring us one step closer to this reality.
A Prospect for Development
With an eye toward the future, Reed highlighted Binance.US dedication to promoting innovation and acceptance of cryptocurrencies.
“To be clear, the fight isn’t over. Now that we’ve survived, our goal is to help crypto thrive and empower all Americans with freedom of choice. We look forward to writing this next chapter together with our community,” he clarified.
