Binance founder Changpeng Zhao said at Bitcoin Asia 2026 in Hong Kong that his policy advice to governments usually starts with four areas: establishing a crypto regulatory framework, setting up crypto reserves, issuing a domestic stablecoin, and advancing asset tokenization. He said many countries still have not created crypto reserves or launched their own stablecoins, and he encourages them to move faster.
Reviewing progress across jurisdictions, Zhao described the United Arab Emirates as the current leader in crypto regulation. He noted that Abu Dhabi Global Market, or ADGM, has granted Binance a global license covering nearly its full product suite, though the UAE has not yet issued a major stablecoin. He also said the United States has made substantial progress on stablecoin and exchange oversight, with the Commodity Futures Trading Commission, or CFTC, moving quickly on federal futures and derivatives licensing.
Zhao added that Japan is active, Hong Kong is moving quickly, and Singapore is relatively conservative. He said Pakistan has pushed ahead on regulation but has been slower in implementation, with Binance still lacking a client-fund banking account there and no stablecoin issued. Kazakhstan, he said, is moving quickly, with strong local banking support for Binance and Binance Pay QR code payments already enabled.
Speaking at Bitcoin Asia 2026 in Hong Kong, Changpeng Zhao said his advice to governments on crypto policy usually focuses on four areas: building a regulatory framework for crypto, creating crypto reserves, issuing a national stablecoin, and promoting asset tokenization.
He said many countries still do not have crypto reserves or a domestic stablecoin in place, and he advises them to move forward as soon as possible.
How Zhao sees progress across jurisdictions
Zhao said the United Arab Emirates currently has the most advanced crypto regulation. Abu Dhabi Global Market (ADGM), he said, has granted Binance a global license that covers nearly all of its products, although the UAE has yet to issue a major stablecoin.
He said the United States has made more progress on stablecoin and exchange regulation, while the Commodity Futures Trading Commission (CFTC) has moved quickly at the federal level on futures and derivatives licensing.
Zhao also said Japan is relatively active, Hong Kong is advancing quickly, and Singapore is comparatively conservative.
On Pakistan, he said regulatory work is moving fast but implementation is lagging. Binance has not yet opened a bank account for client funds there, and a stablecoin has not yet been issued.
He added that Kazakhstan is moving quickly as well. Binance has strong support from local banks there, and Binance Pay QR code payments are already supported.
Zhao also said he will travel to Kazakhstan and Kyrgyzstan next week.
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