Candidates seeking party tickets must submit applications between February 20 and March 2, a release from Anna Arivalayam, the DMK state headquarters, quoting general secretary Duraimurugan, said. Chennai: The DMK on Wednesday invited applications from party aspirants interested in contesting the
Eight skiers perished in a devastating avalanche in California's Sierra Nevada mountains. One more skier is presumed dead. This incident marks one of the deadliest avalanches in United States history. Rescue teams faced extreme weather conditions to reach survivors
Pope Leo lamented a world “in flames” due to wars and the destruction of the environment during an Ash Wednesday Mass, opening the season of Lent for the world’s Christians. Before sprinkling ashes on the heads of participants, a sign of mortality
This marks the third statement issued by Galgotias University after controversy erupted over the presentation of a Chinese-made robot dog as the university’s own innovation at the AI Impact Summit 2026 on Tuesday. Amid the ongoing robodog controversy
Microsoft said on Wednesday it did not think the U.S. Immigration and Customs Enforcement agency was using its technology for mass surveillance of civilians but added that it provided cloud-based productivity and collaboration tools to ICE.The statement from the technology company came in
Regulatory clarity key for crypto adoption: Binance co-CEO Richard Teng
Greater regulatory clarity remains essential for wider retail adoption of cryptocurrency in India, even as favourable policies have helped the US become the world's crypto capital, said Richard Teng, co-chief executive of Binance, the largest cryptocurrency exchange. A former regulator-turned-technocrat, Teng took the helm at Binance in 2021 after the firm's regulatory run-ins across markets and penal action in the US. Last month, he was joined by cofounder Yi He as co-CEO to focus on product and strategy. Contrary to the views of the Reserve Bank of India, Teng believes that crypto would complement India's UPI as it's borderless and decentralised. In an exclusive conversation with ET's Vinod Mahanta at the World Economic Forum on Monday, Teng also explained why enthusiasm around central bank digital currencies is dying globally. Edited excerpts:
What do you think about the approach the Indian government has taken with respect to crypto regulation?
India is a very exciting marketplace with plenty of potential and untapped opportunities. India has ranked number one in grassroots crypto adoption for the last three years, according to the Chainalysis report. It has all the right ingredients for crypto adoption to take place very quickly. But we do need more clarity on the regulation front for the mass market to come in.
A case in point: if you look at what happened in the US, from an anti-crypto stance under president (Joe) Biden to now becoming the crypto capital of the world under President (Donald) Trump, that has created so many opportunities. Stablecoin market cap went up by more than 50%, transaction volume has tripled in the second half of the year, it has now surpassed double what Visa does daily. You can see how regulatory clarity brings about huge change.
Now, all the financial institutions are rushing to issue their own stablecoins because their superior architecture and infrastructure resolve many problems that archaic fiat channels have globally. Once that clarity comes through, India's crypto adoptions will continue to skyrocket.
Will there be an inflexion point after which governments will be forced to look at crypto again? And are we on the precipice of it?
If the US, by being the largest economy in the world and having the deepest capital markets in the world, says that it wants to be the AI and crypto capital of the world, it is very dangerous for others to just ignore these two spaces because these are the spaces that you have to be competitive going forward to maintain a cutting edge. Any country that doesn't invest enough of its own talent density and finances will likely suffer a competitive disadvantage vis-a-vis those that do.
We already have UPI in India. Why replicate a similar infrastructure, especially when there is regulatory ambiguity?
UPI, as part of the payment and financial infrastructure, is important, but crypto complements it. UPI in India is for usage within India by and large, but crypto helps in borderless transfer. It never sleeps, it operates on a 24/7 decentralised basis, because of which there are so many things you can do, including programmability of different tokens. The utility is much stronger than what you see in traditional financial space.
Do you see CBDCs (central bank digital currencies) working across the globe? Do you see CBDCs as competition to crypto?
Five years ago, the narrative of a lot of central banks was that they're going to push CBDCs, but now you can see some scaling back of that motivation. I don't see it (as competition to crypto). If it comes about, it's a good thing because it's also a usage of blockchain technology and a testament of how blockchain will transform the world. In its purest form, if you have retail CBDCs that means everyone holding it has a claim on the central bank and you don't want that because you don't want to disintermediate the banks from their role as credit creators, thereby expanding the credit cycle of a country.
The banks play an important role on that front. Which is why we've seen some scaling back on these efforts, and a lot of central banks are now focusing on wholesale level CBDCs, which are used for interbank settlement, clearing purposes, and leaving banks to do what they do best, which is credit creation.
Do you think crypto can ride with AI?
To me, they are complementary technologies. You have to utilise both. AI can sift through large amounts of data, and is good at detecting trends and analysing. If you complement it with blockchain, which is immutable, it makes the data transparent to all. You can't change it. Today's accountancy is based on the double-entry system, which requires reconciliation. Imagine, once you have data on AI and you put it on the blockchain, you don't need to do reconciliation because nobody can change those records.
How fast is Binance growing? Which geographies are the fastest growing?
Binance is an extremely young company, eight-and-a-half years old. We took about five years to reach our first 100 million users, then slightly more than two years to reach our next 100 million users, and then less than two years to reach the next 100 million users. We began 2024 with 170 million users globally, and ended last year with 300 million users. You can see the rapid pace of growth.
This asset class is very unique because for the longest period of time, institutions, corporates and regulators were just ignoring it. It was the retail investor who really embraced it. We saw a pivot in 2024-2025, that's when institutions started to come in in a big way, the corporates and even the sovereign started to deploy it. We are still at a very early stage of the cycle, crypto adoption is currently 8% in the world, the next 10% will come very quickly.
With the Wazir X hack, people have become very cautious of crypto. How are you making sure this doesn't happen at Binance?
We are fully aware of the risk. Last year alone, we helped our users avoid up to $7 billion in fraud and scams. We have invested greatly. Security is one of the areas where we invest the best talent. We recruit white hats at the best of competition and bring them into the organisation to do different things, like different penetration testing security.
We have nine layers of security protocol to protect ourselves. We educate as well, since it's not only platform-level security that you have to be aware of, but also the user-level security. And we have set up a dedicated fund, called SAFU Fund, a safe asset for user fund that stands at $1 billion. If there's an untoward event, that fund stands to compensate users. None of the regulators require us to do it, but it is our form of instilling trust to our users.
Source: EconomicTimes
Related Posts: UK naval chief says Russia’s Northern Fleet investment remains strong Fiscal prudence remains priority even as govt pushes capex Delhi's air quality remains 'poor' India's vehicle retail sales jump 17 SEBI prioritises reducing regulatory costs to enhance market competitiveness India’s Retail Inflation At 2 Retail inflation climbs to 2 Air quality remains poor Nothing’s first flagship retail store in India goes live in Bengaluru Greater Noida To Faridabad In 30 Minutes
Tu Meri Main Tera Main Tera Tu Meri released on Christmas last year. However, it didn’t receive the love that was expected, despite starring big names like Ananya Panday and Kartik Aaryan. The film, directed by Sameer Vidwans, is a romantic comedy that tries to capture hearts with its quirky love
51 minutes ago
Pakistan secured a spot in the T20 World Cup Super Eight. Sahibzada Farhan scored a century in their win against Namibia. This victory propelled Pakistan into the next stage of the tournament. Namibia finished their campaign without a win. All Super Eight teams have also qualified for the 2028
51 minutes ago
The emergence of walk-in weight-loss injection services in the UK—where high-street pharmacies now offer “skinny jabs" like Wegovy and Mounjaro—marks a transformative and controversial chapter in public health. While these services promise to democratise access to life-changing metabolic
51 minutes ago
Nelson Mandela’s powerful quote reminds you that education is the strongest tool to transform our lives and create positive change in the world. In today’s fast-moving world, negativity spreads very quickly. Stress, confusion, self-doubt, and repeated mistakes can make life feel overwhelming
51 minutes ago
In a social media post, Trump said that if Iran refuses to make a deal, then the United States would need Diego Garcia and its airfield in Fairford. Trump also claimed that Starmer will have to remain strong in the face of Wokeism. United States President Donald Trump has once again reiterated his
50 minutes ago
"Do not give away Diego Garcia," US President Donald Trump has said as he criticised the UK's plan to hand over the Chagos Islands to Mauritius and lease back an important military base. Trump said "this land should not be taken away from the UK" and if it did it would be "a blight on our Great
51 minutes ago
Tension gripped a branch of Punjab National Bank (PNB) in west Delhi’s Kirti Nagar after a woman and her mother-in-law alleged that gold ornaments kept in their bank locker had gone missing, setting off panic among customers and sparking a flurry of rumours about a possible theft
51 minutes ago
As deliberations progressed at the AI Summit 2026 in New Delhi, the conversation matured from broad ambition to structural clarity. The focus shifted decisively toward governance convergence, sector-specific deployment, and long-term capital strategy
51 minutes ago
The U.S. government has signed an agreement with Uzbekistan to secure better access to the Central Asian country’s critical minerals, as U.S. President Donald Trump moves to counter China’s dominance of crucial resources and their supply chains
51 minutes ago
IND vs NED ICC T20 World Cup 2026 Group A match no 36 LIVE: Suryakumar Yadav’s Team India will like to enter the Super 8 with an all-win record after their final league match vs the Netherlands at the Narendra Modi Stadium in Ahmedabad on Wednesday
51 minutes ago
Vinicius Junior scored a brilliant goal but the focus after Real Madrid's win at Benfica on Tuesday was on another incident of alleged racist abuse aimed at the Brazilian. - A question many ask is why Vinicius is so often the target of racist abuse, rather than other Real Madrid players
51 minutes ago
The AI Impact Summit at Bharat Mandapam will remain closed to the general public on February 19 due to security arrangements and restricted events as Prime Minister Narendra Modi is scheduled to visit the expo. However, the good news is that the government has decided to extend the AI summit by one
51 minutes ago
If Lady Whistledown had competition from India, it would be this cutest, no-nonsense dadi who is all over the Internet for her take on Bridgerton. A viral clip titled “OG dadi reacts to Bridgerton" is currently winning hearts online, proving that Regency-era romance has officially crossed
51 minutes ago
Salim Khan has reportedly been placed on ventilator support after a sudden spike in blood pressure led to internal bleeding; surgery is scheduled for Wednesday morning. Salman Khan’s father, Salim Khan on ventilator: Veteran screenwriter Salim Khan has reportedly been placed on a ventilator
51 minutes ago
Google Pixel 10a Price In India: The device runs on Android 16 out of the box. Google has committed to providing seven years of operating system upgrades and seven years of security updates, a move aimed at extending the device’s longevity.Google Pixel 10a Price In India: The device runs on
51 minutes ago
A political slugfest broke out after a Rajasthan BJP MLA drew a gendered comparison between the present BJP government’s budget and that of the previous Congress regime. While participating in the debate on the budget on Monday, BJP MLA Bahadur Singh Koli compared the BJP government’s financial
51 minutes ago
The Patna High Court on February 11 granted bail to a man accused of shouting abusive slogans about Prime Minister Narendra Modi and his mother during an Opposition rally in Bihar in August. A man had been arrested on August 29, two days after the incident occurred during the INDIA bloc’s rally
51 minutes ago
The Delhi High Court on Wednesday (February 18, 2026) asked the Union government to reply to a petition challenging certain provisions of the Digital Personal Data Protection (DPDP) Act, 2023, for allegedly enabling surveillance and excessive control of the Executive as well as undermining judicial
51 minutes ago
Delhi traffic advisory: Heavy VIP movement is expected through the day, and commuters should brace for congestion, especially in the afternoon and evening. The Delhi Traffic Police has issued a fresh advisory for Thursday, February 19, warning of continued traffic restrictions and diversions across
51 minutes ago
US investigators have reportedly been in touch with Mexican authorities about the disappearance of American news anchor Savannah Guthrie's mother, as the search stretches into a third week. The sheriff's department in the US state of Arizona and FBI declined to confirm they had contacted
51 minutes ago
A narrow lane in Mumbai city's upmarket Colaba area opens up to a patch of land filled with small concrete cubicles - nooks washermen use to clean and dry the city's laundry. Surrounding the area are shanties painted in bright hues - red, blue
51 minutes ago
US President Donald Trump's statement about discussing arms sales to Taiwan with Chinese President Xi Jinping has sparked worry in Taipei. Experts suggest this may breach long-standing US foreign policy. Trump's remarks could set a concerning precedent for future arms deals
51 minutes ago
The trailer of Psycho Saiyaan starring Ravi Kishan showcases a thrilling tale of intense love, obsession, and power, set to stream on Amazon MX Player from February 25. Mumbai: The trailer of the upcoming streaming show ‘Psycho Saiyaan’ was unveiled on Wednesday. The trailer introduces Kartik
51 minutes ago
Bill Gates, Founder of Microsoft, will not be attending the AI Impact Summit 2026 happening in Bharat Mandapam, New Delhi, India. In a surprising turn of events, it has been confirmed that Bill Gates, who was also one of the biggest highlight of the AI Impact Summit 2026 is not going to attend the
51 minutes ago
The Supreme Court witnessed a heated exchange between the Enforcement Directorate and the West Bengal government. Arguments centered on allegations of obstruction during recent searches. The state questioned the maintainability of the ED's plea
51 minutes ago
The Pakistan hockey captain tore into the Pakistan Hockey Federation after returning from what he described as a chaotic and humiliating tour of Australia, where players allegedly roamed the streets without accommodation and even washed dishes before matches.Shakeel Ahmad Butt did not hold back
51 minutes ago
Silver Prices Today Feb 18 2026: Silver prices today witnessed sharp volatility, even as gold slipped, with global cues and currency movements shaping sentiment in the precious metals market. In overseas markets, silver remained volatile, while gold traded below the $4
51 minutes ago
