Binance CEO Richard Teng Highlights the Significance of India’s FIU Registration as a Key Regulatory Milestone

In a recent Binance Square Audio live session, Richard Teng, CEO of Binance, discussed the significance of the company’s latest regulatory milestone—its registration with India’s Financial Intelligence Unit (FIU). This achievement marks Binance’s 19th regulatory approval globally and underscores the company’s commitment to working closely with regulators to foster a sustainable and compliant cryptocurrency ecosystem.A Landmark Achievement in a Key MarketTeng expressed his gratitude for the recognition from Indian regulators, emphasizing that this approval is a testament to Binance’s dedication to compliance and regulatory cooperation. “We are very thankful for this recognition in India. It underscores our commitment to working with regulators to ensure that our operations are aligned with the highest standards,” Teng stated. He also acknowledged the efforts of the Binance team, who played a crucial role in securing this approval and expressed enthusiasm about supporting the growing user base in India.India’s Role in the Global Crypto EcosystemHighlighting the importance of the Indian market, Teng noted that India ranks among the top five countries globally in terms of transaction volume across both decentralized (DEX) and centralized (CEX) exchanges. “India has an amazing talent pool and a very vibrant ecosystem. The country’s significant transaction volume reflects its active participation in the global crypto market,” Teng remarked. He further emphasized that Binance is eager to contribute to the development of this dynamic market by providing robust support and services to its Indian users.