Teng Says Abu Dhabi Shaped Crypto Rules For Binance

• Abu Dhabi built crypto rules early, giving exchanges clarity as global regulation slowly evolved.
• UAE leads global crypto adoption with over 30% of its population participating.
• Binance gained three new Abu Dhabi licences, strengthening its regulated trading and custody operations.

Abu Dhabi’s early decision to regulate digital assets is now influencing global policy debates, Binance Co-CEO Richard Teng said during a fireside chat at Abu Dhabi Finance Week (ADFW). The UAE has the highest crypto adoption rate in the world at over 30%, according to estimates from stablecoin provider Triple-A.

The ‘First Mover’ Regulatory Advantage

Teng said that the Emirate began drafting crypto rules before many major economies acknowledged the sector, giving firms a rare level of clarity in the industry’s early stages. Crypto trading was once dominated by individual buyers, with institutions dismissing the sector as temporary. He argued that the landscape has shifted as regulators introduce clearer compliance regimes. 

According to Teng, ADGM’s framework has become one of the most detailed and recognised in the market, helping exchanges operate with more predictability.

“This will be the future of finance.This is one of the first countries in the world and Abu Dhabi is the first jurisdiction in the world to start regulating the crypto sector,” Teng said.

Related: CFTC CEO Council Zeros In On Crypto, Tokenization And 24/7 Markets

Binance Validates ADGM with Global Platform Shift

The comments follow Binance’s latest approvals from Abu Dhabi’s financial regulator. The exchange secured three separate licences covering its trading venue, broker-dealer services and clearing operations. With these permissions, Binance can offer trading, custody and settlement services under local oversight.

Teng added, “We are regulated in 21 different local jurisdictions. But this represents a very significant milestone for ourselves where on a global basis we are regulated.”

The UAE continues to deepen its role as a regional crypto hub. Last year, the country approved its first dirham-backed stablecoin, AE Coin. Zand Bank plans to introduce its own dirham-pegged token, with CEO Michael Chan saying a launch is expected by late December or early January.

Chan said the UAE’s strong digital-asset adoption rate and its clear regulatory rulebook differentiate it from other markets. He added that the region’s framework places traditional money and digital tokens under similar treatment, supporting broader use cases.

Globally, regulators are also moving forward on fiat-backed digital currencies. The United States and Japan have approved stablecoins tied to their national currencies, reflecting rising demand for regulated digital settlement instruments.

Related: Australia Moves to Modernize Crypto Rules With ASIC Stablecoin Relief