The third Taipei Blockchain Week concluded successfully. Vishal Sacheendran, Binance’s regional market leader who participated for the first time, is optimistic about the future of the crypto market. He believes that the global regulatory environment will improve and government support will bring more value to the industry. (Previous summary: Binance announced that it will become the official gold sponsor of Taipei Blockchain Week in 2024) (Background supplement: Binance launches new Binance wallet: a seamless entrance to Web3) This article is a press release, written and provided by Binance , does not represent the position of Dongzhong, nor is it investment advice, purchase or sale advice. The third Taipei Blockchain Week officially concluded last week. Vishal Sacheendran, the general manager of Binance’s regional market, visited Taiwan for the first time and participated in this event on behalf of Binance. He had a fireside conversation with Li Yunxiu, co-founder of Red Mansion Capital, on the current and future development of the crypto market. Vishal expressed his optimism about the future development of the encryption industry. He pointed out that many changes have taken place in the global encryption regulatory environment. More and more governments, including Taiwan, are willing to take the initiative to understand this industry and help its development, providing a better environment for the ecosystem. Multiple values. As a former regulatory officer with a traditional financial background, Vishal is mainly responsible for communicating with governments and regulatory agencies in various countries at Binance. He believes that over the past few years, the overall encryption industry has made considerable progress in building trust with regulatory agencies. Vishal cited Binance as an example, pointing out that most of its management, compliance and enforcement teams are from the former public sector or traditional financial fields. People in the same "system" as the regulator have common experience and understanding. Effectively assist in communication and dialogue between Binance and governments of various countries. Vishal explained that in the encryption industry, there are usually three categories of regulatory agencies. One is that they do not understand new technologies and adopt a comprehensive ban on new things; the other is like Europe or Taiwan earlier, which adopt an observation approach to new technologies and Industrial supervision also starts with anti-money laundering. When it matures, a new supervision framework will be further established. The last category is like the United Arab Emirates, Bahrain and other countries, which not only understand and are not afraid of new technologies, but also provide users with more information. With multiple protection measures in place, anti-money laundering is only part of the overall regulatory framework. Vishal pointed out that in 2024, we can see more changes from the first category to the second category, and the second category to the third category. The positive impact is that the issuance of ETFs has been regulated and approved, and more and more ETFs have been issued. Institutional investors and traditional funds have entered the market one after another, thus promoting the development of the current market. Talking about future industrial development and the impact of the entry of traditional institutions. Vishal said that currently the world's population that owns crypto assets is only a very small minority. Whether it is on the retail or institutional side, there is still huge room for growth. The market is large enough for everyone to have a place. At the same time, with the implementation of supervision, Some countries even list Bitcoin as part of their reserve mechanism, which makes the prospects for future development of crypto assets limitless. When asked about his views on the current market development, Vishal believes that the entire industry can still do more on the education side, not just for users, but for the entire system such as governments, supervisors, law enforcement agencies and enterprises to help them Understand the encryption industry better; on the other hand, Vishal also pointed out that more governments have taken active actions and look forward to introducing an ecosystem to the local area. For example, he said that Taiwan has a young community, industry-friendly regulators and outstanding Talent, especially the developer community, and the government is also looking for ways to keep talents local for development and create more value for the ecosystem. Such developments also excite him. Vishal pointed out that in the past, the industry took the initiative to contact the government, but now it has changed to the government taking the initiative to talk to the industry and seeking opinions. He emphasized that as long as the government continues to maintain contact with the industry and remains open to industry exchanges, Binance will always be willing to provide help. About Binance Binance is the world’s leading blockchain ecosystem and the cryptocurrency trading platform with the largest number of transactions and registered users in the world. Binance is trusted by 240 million users in more than 100 countries around the world for its industry-leading security, transparency, trading engine speed, investor protection measures, and unparalleled portfolio of digital asset products and services. Its service scope covers many fields such as transaction, finance, education, research, public welfare, payment, institutional services and Web3 functions. Binance is committed to building an inclusive cryptocurrency ecosystem, using cryptocurrency as a core means to enhance financial freedom and popularize financial services around the world. Related reports: Binance Launchpool lists “Vana” for new coin mining. What is the AI ​​data platform that a16z focuses on? The Secret of BNB’s New High: The Fierce Binance Listing Effect Binance officially launched “Interest-earning Margin BFUSD” with an annualized return of up to 30%. What are the features and risks? "General Manager of Binance Regional Market: Global regulatory changes are taking place, and we are happy to see the Taiwan government promote the development of the encryption industry." This article was first published on BlockTempo (Dong District Dongzhu-the most influential blockchain news media) .