Regulatory clarity key for crypto adoption: Binance co-CEO Richard Teng
Greater regulatory clarity remains essential for wider retail adoption of cryptocurrency in India, even as favourable policies have helped the US become the world’s crypto capital, said Richard Teng, co-chief executive of Binance, the largest cryptocurrency exchange. A former regulator-turned-technocrat, Teng took the helm at Binance in 2021 after the firm’s regulatory run-ins across markets and penal action in the US. Last month, he was joined by cofounder Yi He as co-CEO to focus on product and strategy. Contrary to the views of the Reserve Bank of India, Teng believes that crypto would complement India’s UPI as it’s borderless and decentralised. In an exclusive conversation with ET’s Vinod Mahanta at the World Economic…
