‘Binance indictment – a cautionary tale for Indian crypto ecosystem’

As Binance chief executive Changpeng Zhao’s (CZ) stepped down from his positing, pleading guilty to breaking US anti-money laundering laws after years of probe into the world’s largest crypto exchange, Union Minister of State for Electronics and Information Technology, observed that there is a “lesson to be learnt from Binance, FTX and other crypto companies.”

“Using new technology to break the law does not make you a disrupter. It makes you a criminal,” Chandrashekhar said on X, formerly known as Twitter, adding that the skeptical approach of the current government against crypto speculation “has saved countless Indians from crypto meltdown & losses.”