Binance Head of Regional Markets: Crypto investors favor ‘regions with a robust regulatory foundation’

The release indicated that the dialogue within the forum examined European Union (EU) regulation as an example. It highlighted "European legislation as an ideal example of the kind of consistent, clear regulatory frameworks that the crypto market needs to both safeguard investors and foster growth and innovation."

Changpeng Zhao (CZ), co-founder and former CEO of Binance, noted France's productive regulatory approach to crypto. According to a Binance blog post, he said that regulations help prevent illicit activities like money laundering. "Effective regulation is essential for the mainstream adoption of cryptocurrency," CZ said. "The French DASP [digital asset service provider] and AML/CFT [anti-money laundering/countering the financing of terrorism] regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France." The AMF granted Binance a DASP registration in May 2022.

Binance’s current CEO Richard Teng cited Paris as an example of a jurisdiction where policies are attracting more crypto business. CoinDesk reported Teng saying, "If you look at what Paris is doing, it is very conducive for businesses. Not only ourselves, a number of crypto players are trying to use Paris as their base for expansion within Europe."

Sacheendran has served as Head of Regional Markets for Binance since February 2022, overseeing government relations, regulatory licensing initiatives, and expansion operations. He previously worked as Capital Markets Authorization Senior Manager at Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and spent six years with the Bank of New York Mellon on the Global Client Management team.