Court ruling deeming crypto as property is a paradigm shift for Indian market: S. B. Seker, APAC Head, Binance
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S. B. Seker, APAC Head, Binance
As cryptocurrency exchanges expand their focus on the Indian market, a recent Madras High Court ruling classifying digital assets as property marks a milestone. S. B. Seker, APAC Head at Binance, views the decision as pivotal for India’s evolving crypto landscape. Speaking with businessline, Seker emphasized how the judgment aligns with Binance’s vision and underscores India’s progressive stance, reinforcing the company’s interest in expanding local operations.
In what ways does classifying crypto as property advance Binance’s goals in India?
This ruling is significant as it clarifies digital assets’ legal status. Defining them as property establishes rights like transferability and ownership, empowering users and signaling regulatory maturity. From Binance’s perspective, this aligns with our commitment to safeguarding users’ assets, demonstrating that India’s framework now mirrors our approach.
What are your thoughts on India’s current crypto compliance regulations?
India currently requires Anti-Money Laundering (AML) registrations but lags behind other G20 nations in formalizing digital assets within its financial framework. A more defined licensing model—whether for broker-dealers, exchanges, or OTC platforms—would enhance clarity. Adapting global best practices could strengthen India’s position while fostering innovation.
Are there plans for physical offices or hiring in India?
As an FIU-registered foreign entity, Binance aims to localize but needs regulatory certainty. Transitioning from AML requirements to a comprehensive licensing regime would enable us to scale meaningfully. We’re keen to deepen partnerships with Indian states and expand our presence nationwide once this clarity emerges.
How does India fit into Binance’s broader strategy, particularly in Maharashtra?
India drives substantial growth in APAC, contributing significantly to regional adoption. Usage spans urban and rural areas, though gender-balanced participation remains a focus. Maharashtra’s ambitious real-world asset tokenization plans, especially for land titles, present opportunities to collaborate. We aim to share technical expertise to ensure secure, scalable implementations.
Could India see stablecoin initiatives similar to your Kyrgyzstan partnership?
Absolutely. If Indian governments explore rupee-backed stablecoins, CBDCs, or public-private models, we’d welcome collaboration. Digitizing the rupee through programmable, interoperable solutions aligns with our focus on stablecoins and asset tokenization—key drivers for onboarding the next wave of users.
Published on October 30, 2025
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