Binance Plans Southeast Asia Expansion Amid Greater Crypto Traction

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Vishal Sacheendran, Binance’s head of regional markets. Photo: Point Zero Forum

(Lisbon, Portugal) — Binance Holdings Ltd. will grow its Southeast Asia market in 2025 by working with regulators to get more cryptocurrency licenses in the region and launch more products, according to a senior executive at the world’s largest crypto exchange.

As crypto gains further traction worldwide, regulation of the digital asset is expected to be introduced “like a speed train” next year as more authorities gain a better understanding of the space, said Vishal Sacheendran, Binance’s head of regional markets, in an interview with Caixin on Wednesday.

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Binance plans to expand its presence in Southeast Asia by increasing cryptocurrency licenses and launching new products amid growing global interest in digital assets.
Regulatory frameworks like the EU's MiCA and India’s registration system are expected to enhance institutional participation in the crypto market.
Binance surpassed 240 million users and aims to make crypto accessible to a wider audience, despite facing legal challenges and penalties in the U.S.

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Who’s Who

Binance Holdings Ltd.: Binance Holdings Ltd. plans to expand in Southeast Asia by collaborating with regulators to obtain more cryptocurrency licenses and launch new products by 2025. The firm emphasizes regulatory cooperation and user-focused innovation, with over 240 million registered users and educational initiatives in crypto and blockchain. Binance faced legal challenges, including a $4.3 billion penalty and a four-month prison sentence for its former CEO. Despite these issues, the company sees growing global crypto adoption.

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What Happened When

2024：: Web Summit records over 71,000 attendees from 153 countries

November 5, 2024：: Clear election outcome leads to increased interest in Binance

November 6, 2024：: Binance recorded more than 13 million app visits following the election outcome on November 5, 2024

November 2024：: Binance pleads guilty to violating U.S. anti-money laundering and sanctions laws, with a $4.3 billion penalty imposed. Zhao Changpeng is sentenced to four months in prison

As of November 2024：: Binance involved in offering crypto and blockchain courses in Southeast Asia

November 13, 2024：: In an interview, Vishal Sacheendran discusses the expected regulatory changes in crypto for 2025 and the positive impact on the industry

November 13, 2024：: Bitcoin hits a record high of $93,000

November 14, 2024：: Binance surpasses 240 million registered users

Mid-November 2024：: The European Union's Markets in Crypto-Assets (MiCA) Regulation set to fully take effect in late December 2024

Before November 13, 2024：: Binance Holdings Ltd. plans to grow its Southeast Asia market by working with regulators to obtain more cryptocurrency licenses and launch more products by 2025

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