The US under President Donald Trump has moved on from a crypto regulatory regime marked by “a bit of oppression”, according to Richard Teng, chief executive of Binance Holdings.

Digital asset executives have loudly complained that regulators under previous President Joe Biden sought to engage in “regulation by enforcement”, their description for a spate of high-profile lawsuits against and hefty fines levied on companies including Binance, Coinbase and Ripple.

The Trump administration, by contrast, has made a series of crypto-friendly moves in the months since the inauguration.

“I think we have a fresh reset and a restart,” Teng said in an interview with Bloomberg News on the outskirts of the Consensus crypto conference in Hong Kong. Still, Binance is waiting for more clarity from the US before it decides on its plans there, Teng said.