Binance CEO Richard Teng has urged Indian policymakers to broaden their approach to cryptocurrency regulation beyond exchange trading, emphasizing the importance of stablecoins and crypto payments during an interview at Binance Blockchain Week in Dubai. According to Moneycontrol, Teng highlighted that trading represents only one facet of the crypto ecosystem and called for proper banking access to support industry growth in India.
Binance CEO Richard Teng Urges Broader Crypto Embrace in India
Speaking to Moneycontrol in December 2025, Binance CEO Richard Teng stressed that Indian regulators should "embrace different aspects of crypto" rather than focusing solely on trading activities. Moneycontrol reports that Teng specifically identified stablecoins and crypto payments as areas bringing "significant value" to the financial ecosystem. "We continue to see strong growth in India. And we do hope that there will be more embracement by the policymakers, the regulators, on different aspects of crypto. Because trading is just one aspect, so things like stablecoins are important, crypto payments are important," Teng stated during the interview conducted at Binance Blockchain Week in Dubai.
The Binance chief executive also underscored banking access as a critical challenge for the cryptocurrency industry in India. "Policy makers need to ensure that banking happen within the crypto industry and that banks are supportive," he said, identifying this as one of the major obstacles facing crypto businesses operating in the country. This call for banking integration comes as Binance seeks to deepen its presence in what the company views as a strategically vital market.
Why Is India Considered a Key Growth Market for Binance?
India's demographic profile and technology adoption rates position it as a primary growth driver for Binance in the Asia-Pacific region. According to Moneycontrol, Binance APAC Head SB Seker previously shared that the Asia-Pacific region delivered approximately 69-70% year-on-year growth for digital assets on the platform, with India "by far the leader" exceeding that growth pace. Seker characterized India as "the next big growth market that will contribute significantly to Binance's next one billion users."
Teng reinforced this assessment, citing India's young demographicsβwith nearly 70% of the population below 35 years oldβcombined with extremely high mobile penetration and a tech-savvy population. "In countries such as this, you will see very high penetration of crypto adoption," Teng explained. The company has already taken regulatory steps by registering with India's Financial Intelligence Unit (FIU) and maintains close engagement with the Indian government.
How Does Binance Plan to Navigate India's Regulatory Environment?
Binance's approach to the Indian market centers on compliant growth, user protection, and innovation. As reported by Times of India, SB Seker outlined a strategic roadmap prioritizing these three pillars during a conversation about navigating India's evolving crypto landscape. The exchange's registration with the FIU represents a concrete step toward regulatory compliance, while ongoing dialogue with government stakeholders signals a long-term commitment to operating within India's legal framework.
This strategy reflects a broader industry trend where major crypto platforms seek to establish legitimate operations in key markets by proactively engaging regulators. For Binance, India represents not just a large user base but a market where demographic and technological factors could accelerate mainstream cryptocurrency adoption if supportive policies emerge.
What Are the Main Regulatory Hurdles Facing Crypto in India?
The primary structural challenge identified by Binance leadership is the lack of banking support for cryptocurrency businesses. Teng's explicit call for policymakers to "ensure that banking happen within the crypto industry" highlights a persistent friction point where financial institutions remain hesitant to service crypto-related entities despite the exchange's FIU registration. This banking gap affects everything from fiat on-ramps for users to operational banking for exchanges themselves.
Beyond banking access, the regulatory framework's scope remains a concern. Teng's advocacy for recognizing stablecoins and crypto payments as distinct from trading suggests current policy discussions may be too narrowly focused. The distinction matters because stablecoins and payment applications involve different risk profiles and use cases compared to speculative trading, potentially warranting tailored regulatory treatment.
What This Means for Indian Crypto Users and Investors
For Indian cryptocurrency users, Binance's continued engagement and FIU registration provide a degree of operational certainty amid regulatory ambiguity. The exchange's push for broader regulatory recognition of stablecoins and payments could eventually expand the range of legitimate crypto services available to Indian residents, potentially including more efficient cross-border payments and dollar-denominated savings vehicles through stablecoins.
However, the banking access issue remains a practical constraint. Until policymakers address the reluctance of traditional banks to service the crypto sector, users may continue to face friction converting between rupees and digital assets. Investors should monitor whether the Indian government responds to industry calls for a more nuanced regulatory framework that distinguishes between different crypto activities, as this would signal the direction of future policy development.