India Web 3.0 Summit: ‘Smart regulation fosters innovation’, Binance’s SB Sekar says

SB Sekar at India Web 3.0 Summit

During an interaction with Moneycontrol at the India Web 3.0 Summit, SB Sekar, Head of APAC at Binance, emphasised that “smart regulation fosters innovation” rather than hinders it.

Speaking about the country’s evolving digital asset ecosystem, Sekar said India has already “dipped its toes in Web 3.0 from an architectural perspective” and continues to lead the region in adoption.

“There is always an underlying assumption that innovation and regulation have a trade-off, that is not the case,” Sekar said, highlighting that well-designed policies can accelerate responsible technological growth.

Citing regional data, Sekar noted that the Asia-Pacific (APAC) region currently records a 69–70% growth rate in digital asset adoption, with India consistently ranking among the top markets. “India has been at the top end of digital asset adoption, and it’s a trend that is going to continue,” he added.

“India contributes 11–12 percent to the total global development pool,” Sekar said, adding that this number could be much higher if the domestic ecosystem could “soak up the capacity.” He pointed out that while there is ample supply of talent, the question remains whether there is enough demand. “If we could collaborate and contribute transparently to building that ecosystem, there will be a net benefit for the development of the labour pool,” he said.

Sekar shared that Binance currently holds full-scale digital operation licences in 22 countries and operates in 100 nations globally. The exchange has processed $150 trillion worth of digital assets over the past eight years, handling close to 1.5 million transactions per second, a scale Sekar described as being achieved “responsibly.”

“That’s our approach to India,” he said, explaining that Indian users currently number between 5–10 million, based on conservative estimates, a figure projected to rise to around 30 million in the next three to five years. “If you ask me if the ship has sailed on Indians’ participation, then the answer is yes. But the question is how do we build a framework to accommodate for this in a way that provides clarity on what elements of digital assets are permitted and which require a certain degree of control. That clarity is yet to come.”

Sekar pointed out that among G20 nations, most have adopted “smart regulation” to balance innovation and compliance. “What that looks like basically is activity-based licensing — a category of financial services licensing that breaks down authorisation based on several parameters. The end goal is to provide clarity,” he said.

According to Sekar, India’s ability to frame clear, forward-looking digital asset policies will determine how effectively it leverages its talent base and market potential in the Web 3.0 era.