The post Binance CEO Says India’s Young, Tech-Savvy Population Is Powering Rapid Crypto Adoption appeared first on Coinpedia Fintech News
India’s growing crypto potential has caught global attention.
Binance CEO Richard Teng believes that the country could emerge as one of the world’s leading crypto hubs. In a recent interview with CNBC , he shared his perspective on why India stands out as a major player.
India Could Be the Next Crypto Superpower
Teng highlights that India is a “very important market” with the largest demographics in the world, and tech-savvy, young population. He notes that in such countries, crypto adoption usually happens much faster compared to others.
He noted that India ranks among the top countries in the Chainalysis Global Crypto Adoption Index because of all these factors coming into play.
Although there are still some market barriers, Teng remains optimistic about the future. He believes that as the government and regulators provide greater clarity, it will boost India’s position in the global crypto space.
Teng also added that Binance is actively working with policymakers to explore ways to support the government’s agenda.
The Role of Smart Regulation
When asked how regulators can help facilitate this growth, Teng explained that Binance has extensive experience working with authorities around the world, operating as the most regulated exchange globally, with licenses in 22 different jurisdictions. He emphasized that clear and smart regulations are key to driving crypto adoption.
“If the regulator can give a lot of clarity and come up with smart regulation to support the likes of stablecoins, utility, crypto trading, crypto asset management, custody, the better it is for the industry and the greater the crypto adoption that we will see ,” he said.
He cited the US as an example, noting the shift toward pro-crypto policies under President Trump.
India’s Cautious Approach
India appears to be taking a cautious approach toward cryptocurrencies. However, recently an Indian court ruled that crypto assets qualify as property capable of ownership and trust. This gives digital assets legal status for the first time in India.
Binance has had a complex history with Indian regulators. However it has resumed full operations in India and is now registered with the Financial Intelligence Unit-India (FIU-IND) as a reporting entity.
Crypto Goes Mainstream
Teng noted that for a long time, crypto was seen as a niche asset class, driven by retail investors. However, he said that crypto has now gone mainstream. Binance has seen record participation from institutions, corporations, and even sovereign entities allocating assets into crypto.
He believes that the long-term trend is “very bullish” noting that we are still at a very early stage of global crypto adoption.
