When opening the Binance Official Website or the Binance Official App, long-time users may notice that the brand tone, product rollout rhythm, and KYC policies feel different from a few years ago. The landmark event behind this shift was the resignation of CZ (Changpeng Zhao) as Binance CEO in late 2023, succeeded by Richard Teng, a former financial regulator from Abu Dhabi. This article does not evaluate the individuals involved but rather outlines the "observable changes in Binance policies since CZ's departure" to provide regular users with an objective guide on how these shifts might affect their experience. For more context, we recommend reviewing About BabiaHub and our Disclaimer.
I. Background: Why Did CZ Step Down?
CZ's departure was the direct result of a settlement agreement reached in late 2023 between himself, Binance, and several U.S. agencies, including the Department of Justice (DOJ), the Treasury's FinCEN, and the CFTC. Key public terms of the settlement included:
- Binance pleaded guilty and paid record-breaking compliance fines;
- CZ personally pleaded guilty and resigned from the CEO position;
- Binance accepted multi-year independent compliance monitoring;
- The appointment of a CEO with a strong regulatory background, leading to Richard Teng's leadership.
"CZ stepping down" was not an isolated incident but a core component of this settlement. Understanding this is key to realizing that subsequent policy changes are structural, long-term shifts rather than temporary adjustments.
II. Overview of Observable Policy Changes
| Dimension | Typical Style Under CZ | Observable Changes After Departure |
|---|---|---|
| Corporate Governance | Founder-led, flat structure | Compliance-heavy management + Board structure |
| Compliance Stance | "Global-first" emphasis | "Compliance-first / License-first" emphasis |
| Regional Strategy | Entering as many markets as possible | Selective exit / Tightening in non-compliant markets |
| KYC / AML | Periodic strengthening | Comprehensive normalization; more complex workflows |
| Product Innovation | Fast-paced, wide coverage | Slower pace; some high-risk products delisted |
| Public Communication | Strong personal IP (CZ) | "Institutionalized" CEO image; more low-profile |
III. Compliance and Regulation: A Total Pivot in Direction
The most significant changes have occurred at the compliance level.
1. Implementation of Independent Compliance Monitoring. The multi-year oversight by U.S. authorities means that compliance is no longer just an internal "slogan" but a hard constraint with external supervision.
2. Stricter KYC for All Users. Regular users may notice that previously registered accounts are being asked for re-verification, and certain features (such as higher withdrawal limits, futures, and derivatives) now require higher tiers of KYC.
3. Clearer Regional Policies. Since the transition, Binance's stance on "serviceable regions" has become more direct—actively applying for licenses where possible and proactively scaling back operations in markets where licenses are unattainable.
4. More Frequent Review of Suspicious Transactions. Users performing large withdrawals or complex transfers may more frequently be asked to provide proof of the source of funds.
For the average user, the overall sentiment is that "compliance requirements are higher and processes are more complex, but the platform's overall security feels more robust."
IV. Regional Strategy: More "Selective" Entry and Exit
During the CZ era, Binance was known for a "move first, comply later" style. Under Richard Teng, the approach is closer to the traditional financial institution mindset of "obtain licenses before expansion."
Actively Entering Regions: In markets where it has secured compliance licenses, such as certain European or Middle Eastern countries, Binance is increasing localized compliance investment, launching local stablecoins, and establishing local fiat gateways.
Tightening or Exiting Regions: In markets with unfriendly regulations or excessively high compliance costs, Binance has chosen to reduce its product lines or exit entirely. For example, some regions may no longer support new user registrations or may have specific derivatives delisted.
New Subsidiaries: Entities or partnerships in Singapore, Abu Dhabi, Hong Kong, Japan, and Argentina are taking on more localized compliance tasks, creating a clearer boundary between the "Main Exchange" and "Local Subsidiaries."
For regular users: Regional strategy changes directly affect "which version of Binance you are using"—the products, coins, and promotions you see may vary based on your login region.
V. Product Rhythm: From "All-in Innovation" to "Innovation + Risk Control"
Under CZ, Binance launched futures, leveraged tokens, NFTs, and Launchpool products at an incredibly fast pace. Since his departure, several adjustments have been observed:
Adjustment 1: Convergence of High-Risk Products. Some historically high-leverage or high-complexity products have been delisted in certain regions or restricted to advanced users only.
Adjustment 2: Stablecoin Strategy Shifts. Driven by compliance requirements, Binance's strategy for its own or affiliated stablecoins has undergone several rounds of changes, including delisting certain stablecoins and re-evaluating the market positions of BUSD/FDUSD.
Adjustment 3: Rising Proportion of Compliant Products. Binance has increased the share of "highly compliant" products, such as institutional custody, services for public companies, and regulated Earn products. Correspondingly, retail users see more "conservative" offerings.
Adjustment 4: More "Institutional" Content Operations. The educational center, compliance explainers, and risk warnings have become more prominent, while aggressive marketing tones have been scaled back.
Overall, the trend of Binance transitioning from an "internet-style exchange" to a "financial institution-style exchange" is quite apparent.
VI. Public Communication: The Weakening of "Founder IP"
Before his resignation, CZ was Binance's biggest IP—a single tweet could move markets. Since then:
- Richard Teng's public image is more aligned with "traditional finance," with his communications focusing on compliance, regulation, and institutional partnerships. He rarely uses the "one-meme-drives-the-topic" style typical of the CZ era.
- While CZ no longer serves as CEO, he remains a major shareholder and a community figure. He still posts on social media occasionally, but his impact on market sentiment has significantly diminished.
- Official Binance accounts now lean closer to corporate PR, and community interaction has shifted from "founder-centric" to a "brand matrix" approach.
For regular users: There is less of that "follow a single tweet for a trade" appeal, but platform communication is more stable and predictable.
VII. Practical Impact Checklist for Regular Users
Here is how these changes translate into what a regular user might experience:
1. More Tedious Registration and Verification: New users must undergo a more complete KYC process, and existing users may be asked to provide supplementary documentation.
2. Stricter Scrutiny for Withdrawals and Large Operations: Compliance checks trigger more manual reviews than they did during the CZ era.
3. Stronger Correlation Between Product Menu and Region: The menus you see may differ from those of others, depending on the region linked to your account.
4. A More "Steady-State" Event Rhythm: You won't see massive rebates or high-APR Launchpools every few days as in years past; the density of promotions is more averaged out.
5. Higher Expectations for Platform Stability: With the compliance structure in place, service interruptions caused by "cross-border regulatory raids" are expected to decrease.
6. Slower Innovation of New Features: The shift from "rapid-fire launches" to "stable launches" means the pace might feel slower for users who thrive on "early-stage alpha."
FAQ
Q: Will CZ return to an executive position at Binance? A: Under the terms of the public settlement, CZ is prohibited from serving in a management role at Binance for a specific period. It is unclear when he might return, and there are currently no public plans for his comeback.
Q: Has Binance "changed for the worse" after CZ's departure? A: "Better" or "worse" is subjective. Objectively, Binance has shifted from "founder-led" to "institutionalized." For those who preferred the former, it may feel like a loss; for those who value compliance and stability, the platform is now more user-friendly.
Q: Will the change in CEO affect the Binance token (BNB)? A: While BNB's price is influenced by many short-term factors, its long-term performance depends on the platform's business, burn mechanisms, and ecosystem expansion. The change in CEO is a variable, but not the sole deciding factor.
Q: Are the products or events linked to the CZ era still available? A: Some early products have been delisted or transformed during compliance adjustments, while others remain operational. Check the latest in-app announcements for specifics.
Q: Does stricter compliance mean users no longer need to worry about platform risk? A: "Lower risk" is not "zero risk." Any centralized platform faces the possibility of "black swan" events. Diversifying your holdings and not keeping all your assets in one basket remains a fundamental principle.
Q: Does CZ still share public opinions? A: CZ remains active on social media, but his statements no longer represent the official position of Binance. It is important to make that distinction when referencing his views.