{"id":12512,"date":"2025-02-11T16:31:42","date_gmt":"2025-02-11T16:31:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12512"},"modified":"2025-02-11T16:31:42","modified_gmt":"2025-02-11T16:31:42","slug":"binance-says-exiting-india-was-never-an-option-sees-increased-institutional-queries-since-india-re-entry","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12512","title":{"rendered":"Binance Says Exiting India Was Never An Option, Sees Increased Institutional Queries Since India Re-entry"},"content":{"rendered":"<div>\n<p>Vishal Sacheendran, Head of Regional Markets at Binance, revealed that the company was not allowed to add more users in India after the ban that lasted till August 2024. Once the company tweaked their KYC structure in accordance with India\u2019s Financial Intelligence Unit (FIU), operations have become smoother.<\/p>\n<p>In an interview with a local <a href=\"https:\/\/www.moneycontrol.com\/technology\/mc-exclusive-india-has-always-been-an-important-market-seeing-huge-rise-in-institutional-queries-says-binance-s-vishal-sacheendran-article-12935892.html\" target=\"_blank\" rel=\"nofollow\">media<\/a> outlet on 10 February 2025, Sacheendran said that India is a key market in Binance\u2019s gameplan, and the company has no intention of leaving the country.<\/p>\n<p>In December 2023, authorities in India found the company to be unregistered with the FIU, eventually leading to the blocking of Binance URL and apps on Android and Apple store.<\/p>\n<p>Since Binance\u2019s re-entry in India after registering with the FIU, Sacheendran says, they user confidence has grown in the company.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-staking-platforms\/binance\/\" rel=\"\">Binance Staking Review 2025\u2013 What is Binance Staking?<\/a><\/p>\n<h2><strong>Indian Government Has Never Blocked Regulatory Discussions\u00a0<\/strong><\/h2>\n<p>Sacheendran says that India deeply understands innovation and was one of the first countries to embrace the fintech boom. The Indian government although not shy of innovation had to grasp the nuanced nature of the crypto industry before letting investors explore this sector.<\/p>\n<p>Talking about Indian crypto market\u2019s growth, he said, \u201cWe\u2019re seeing a huge uptick in institutional enquiries.\u201d<\/p>\n<p>\u201cAnd we\u2019re seeing a different uptick in institutional operating accounts where they want to hold on to crypto,\u201d he added. \u201cThey want to make an investment, maybe as a fund manager, or an asset manager.\u201d<\/p>\n<p>He says that there is a huge talent pool in India, with a surging deeptech infrastructure. There is a lot of room for growth, and he believes that the Indian government so far has taken steps in the right direction.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u200cJetking Becomes First Indian Corporation to Adopt Bitcoin Standard<a href=\"https:\/\/twitter.com\/hashtag\/Jetking?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Jetking<\/a> becomes <a href=\"https:\/\/twitter.com\/hashtag\/India?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#India<\/a>\u2019s first corporation to adopt the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#Bitcoin<\/a> Standard, influencing <a href=\"https:\/\/twitter.com\/hashtag\/market?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#market<\/a> trends and corporate finance strategies.<a href=\"https:\/\/t.co\/FU7kSfHD7G\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/FU7kSfHD7G<\/a><\/p>\n<p>\u2014 Cryptofrontnews (@CryptoFront_CFN) <a href=\"https:\/\/twitter.com\/CryptoFront_CFN\/status\/1889001190014267738?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 10, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Although happy with the progress India is making in the crypto space, Sacheendran, weighs in on the recently announced budget for the year 2025, and says that there is still a lot of room for improvement.<\/p>\n<p><strong>Explore:\u00a0<\/strong><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/indias-coindcx-ceo-is-hoping-for-relaxation-on-crypto-taxation-in-budget-2025-and-can-coindcx-acquire-wazirx\/\" rel=\"\">India\u2019s CoinDCX CEO Is Hoping For Relaxation On Crypto Taxation In Budget 2025. And Can CoinDCX Acquire WazirX?<\/a><\/p>\n<h2>\u201cNot Looking To Buy WazirX\u201d<\/h2>\n<p>Talking about the notorious WazirX hack, he explained that growth of crypto in India hasn\u2019t slowed much since the hack. On the contrary, it has grown in line with the global numbers. There is a huge uptick in institutional enquiries and operating accounts that want to hold on to crypto. This growth is visible not just in India but globally as well.<\/p>\n<p>However, a Binance takeover of WazirX is highly unlikely. Meanwhile, CoinDCX\u2019s Sumit Gupta remains \u201copen to the idea\u201d of taking over WazirX.<\/p>\n<p>Crypto is a nuanced and young industry and India is a country with a young population and high internet penetration. With India ranking on top when it comes to crypto adoption, he thinks the government will have to work with the industry to grow the crypto sector. If appetite for crypto is not grown soon, the country might lose its adoption lead.<\/p>\n<p>Sacheendran says that crypto exchanges and related firms in India are waiting for the crypto discussion paper to come out. He suggests developing a comprehensive framework that is agile and allows patching in any new innovation on the fly.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/who-is-siddarth-bharwani-and-why-is-michael-saylor-promoting-an-indian-companys-bitcoin-strategy\/\" rel=\"\">Who Is Siddarth Bharwani? And Why Is Michael Saylor Promoting An Indian Company\u2019s Bitcoin Strategy?<\/a><\/p>\n<h2><strong>Impact of US Elections on the Global Crypto Markets <\/strong><\/h2>\n<p>Sacheendran believes that the US elections had a positive impact on the outlook of cryptocurrency worldwide. Some countries were already open to the concept, with global and local players regulated as per the country\u2019s licensing and regulation norms.<\/p>\n<p>Other countries had initiated their crypto framework development like Europe\u2019s MiCA and there were countries like India who took a cautious approach and wanted to see steps taken by the United States in this sector first.<\/p>\n<p>With US all in on crypto, Sacheendran believes that a lot more countries will embrace the industry. He acknowledges that many countries might end up taking a page out of US\u2019s regulations around crypto. All in all, the outcome for the crypto industry post US elections has been good for investors.<\/p>\n<p>With crypto gradually integrating into the financial global fabric, Sacheendran believes that regulators granted the industry its legitimacy when they approved Bitcoin ETFs. This move brought institutional investors into the fold.<\/p>\n<p>He says that earlier on, crypto was all about retail investments. However, with the approval of spot ETFs, cryptos like Bitcoin have become an asset class, ripe for investments from investors with a more risk-taking appetite.<\/p>\n<p>This contributed to an increased growth spurt that the industry saw from March last year, 2024.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/this-too-shall-pass-says-binance-ceo-richard-teng-amid-crypto-market-bloodbath-explore-best-crypto-to-buy\/\" rel=\"\">\u201cThis Too Shall Pass,\u201d Says Binance CEO Richard Teng Amid Bloodbath. Explore Best Crypto To Buy!<\/a><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/binance-says-exiting-india-was-never-an-option-sees-increased-institutional-queries-since-india-re-entry\/\">Binance Says Exiting India Was Never An Option, Sees Increased Institutional Queries Since India Re-entry<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Vishal Sacheendran, Head of Regional Markets at Binance, revealed that the company was not allowed to add more users in India after the ban that lasted till August 2024. Once the company tweaked their KYC structure in accordance with India\u2019s Financial Intelligence Unit (FIU), operations have become smoother. In an interview with a local media [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12512","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12512"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12512\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}