Источник BeInCrypto.com
Заголовок Exclusive Binance Without CZ: Head of Regional Markets Vishal Sacheendran on Exchange’s Next Steps
Дата 20240928

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Exclusive Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance Without CZ: Head of Regional Markets Vishal Sacheendran on
Exchange s Next Steps

In a timely interview, Vishal Sacheendran from Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance offered insights into
the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта giant s operations amidst major changes.

Sacheendran, Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance’s Head of Regional Markets, stressed the company s
dedication to staying compliant and shared insights on its future goals.
Speaking to BeInCrypto, he discussed how one of the largest cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
exchanges is tackling regulatory hurdles, adapting connection with its founder
Changpeng Zhao (CZ) , and planning its next steps.

What progress has there been in the policy of Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance in global regulatory
compliance
, especially after what happened to CZ?

It s a bit unfair to say that we have only been paying attention to
compliance from when CZ had a settlement. Compliance was our focus for four
years or more. Even though we re just a 7-year-old company, we ve
always paid huge attention to compliance over the past years.

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If you look at the (US) DOJ’s settlement, what happened was from our initial
years as a company when rules and regulations were not in place, and they
mention that we have done a good job with the compliance program since then.

Currently, we have about 500 to 600 compliance employees and we continue to
invest heavily in their team. We are hoping to hit close to 700 to 800 by the
end of the year. So, we are one of the most regulated crypto firms out there.
We just had our 19th registration with India a couple of weeks ago.

All in all, we ve done pretty well in the compliance space. I
don t think the settlement with the US regulators has anything to do
with our current compliance pace.

How is the relationship between CZ and Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance going to be after he is
released ?

He is only the ultimate shareholder. He s not involved at all and that
was a part of the settlement. He won t come back and you can see it in
the statements. We have a statement. He s not involved in any of the
operations.

There are a lot of speculations that the prices of Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance-related tokens
might go up once that happens, too.

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You should be more hyped about the US federal rate cuts. That is going to be
more influential than anything else.

What is the industry outlook for crypto?

2025 is going to be a very interesting year for crypto, and we just hope and
see what happens next. There is a lot of good stuff coming with the
regulations slowly catching up to innovation. You can see regulators trying to
grow the industry instead of looking at it from their own perspective. Vishal
sacheendran, Head of Regional Markets, Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance. Source: Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance

Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance has been putting a lot of effort into education in the crypto space.
What are your major achievements?

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We have to start looking at crypto education from the grassroots level. In
Kazakhstan, we are working with universities and high schools to teach kids
about blockchain, about crypto.

Our users are becoming more knowledgeable, too. For people who want to invest,
they need to know what they re investing into , do their research
extremely important, and not just follow the hype .

There s a huge effort being placed on education not just with Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance
Academy, but also in the work that we do with the regulators, law enforcement
agencies, with governments across the world. Our compliance teams work with
law enforcement agencies across the world, giving them training. We give
cybersecurity training to a lot of people.

Just like how you did mandatory AML and KYC training when you joined a bank, I
think these things should be mandatory — for crypto, too. Education is going
to be the key for them to understand the industry and how to treat it.

Which jurisdiction seems to have the most reasonable regulation for the crypto
industry?

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Every jurisdiction is different. For example, Japan was one of the first
jurisdictions globally to come up with a crypto framework. They treated crypto
from an AML registration point of view.

If you look at a comprehensive framework for crypto, Abu Dhabi Global Market
(ADGM) was the first one in Abu Dhabi and I was part of the team that rolled
it out. Everyone has a different risk appetite and different perspectives on
how they should regulate crypto.

The ones that will be successful are the ones that are going to ensure that
they don t kill the industry but regulate it. The crypto regulators
either regulate it, prohibit it, or take no action. I think regulation is the
key.

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For specific jurisdictions, you can see the adoption of crypto in the markets
in MENA , Latin America, and Southeast Asia. Indonesia, Thailand, and India
have the highest crypto adoption globally.

There are other jurisdictions that are not there yet. It could be for multiple
reasons. They don t have the risk appetite for it and that s a
huge it s a huge drain on talent.

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