Vishal Sacheendran, Binance‘s Head of Regional Markets, asserted that the upcoming U.S. presidential election is unlikely to significantly alter global cryptocurrency regulations. Speaking at the Token2049 event, he emphasized that regulatory frameworks are decentralized and primarily shaped by individual nations.
Sacheendran highlighted that countries in the Middle East, Latin America, and Southeast Asia are actively developing their own regulations tailored to their unique needs. He pointed to India, Thailand, and Indonesia as key emerging markets fostering crypto innovation. “India is coming to the fore for getting their regulations in order,” he noted, citing the country’s vast population and potential market for digital assets.
In Southeast Asia, Thailand has introduced several crypto-friendly regulations, including allowing local asset management firms to invest in U.S. spot Bitcoin exchange-traded funds. The country also established a regulatory sandbox to encourage innovation in the crypto sector. Indonesia’s financial regulator has similarly implemented a sandbox since March to assess local crypto firms prior to product launches.
Sacheendran also referred to the Abu Dhabi Global Market (ADGM) as a model for other regions’ regulatory frameworks. He explained that the ADGM successfully recognizes crypto as an asset class akin to real estate and stocks, setting a precedent for other jurisdictions.
Despite the regulatory hurdles faced by the U.S. market, particularly from the Securities and Exchange Commission, Sacheendran believes there is a growing global trend toward comprehensive digital asset regulations.
Looking ahead, Binance CEO Richard Teng mentioned in April that the exchange is in the process of establishing its global headquarters, with ongoing discussions about potential jurisdictions. The company aims to create a regulatory environment that supports its extensive user base of approximately 225 million users.
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