The cryptocurrency landscape in countries such as India and Sri Lanka is evolving swiftly, as highlighted by a recent survey conducted by Binance. The findings reveal a growing demand for enhanced security measures in Asia’s crypto markets, where investors are increasingly cautious and frequently engage with volatile digital assets.
India, along with Vietnam and Thailand, has shown significant interest in the crypto sector in recent years. While regulatory frameworks are still being developed in these nations, citizens continue to explore investments in these high-risk assets. Binance has encouraged Web3 companies to create security solutions that cater specifically to the needs of Asian crypto markets.
New Users and Seasoned Investors
According to Binance’s Asia Crypto Security Survey, which surveyed over 29,800 cryptocurrency users across Southeast, South, and East Asia, the crypto market is no longer dominated by newcomers. Only 28% of respondents reported being in the early stages of their crypto journey, having invested for less than six months. In contrast, a substantial 72% of users have been involved in the sector for over a year or two.
“This mix of novices and experienced investors indicates a transition in the ecosystem, moving from speculative interest to sustained engagement,” Binance noted. Most respondents maintain modest portfolios, with over half holding less than $10,000 (approximately ₹8.50 lakh), reflecting a cautious approach to investing in these unpredictable assets. Additionally, more than 64% of participants reported frequent interactions with crypto services, visiting them several times a week.
Demand for Education and Security
A significant portion of the surveyed users expressed interest in participating in platform-organized anti-scam initiatives, including phishing detection tests. To foster trust and understanding, respondents suggested several improvements in anti-scam educational resources. Among the recommendations were simplifying technical content (63.7%), increasing notification frequency (39.3%), incorporating localized case studies (36.4%), and diversifying engagement methods (26.7%). This illustrates a strong demand for practical, gamified education, particularly if linked to rewards or recognition.
Asian nations are striving to keep pace with the global crypto exploration seen in regions like the UAE, EU, and the USA. India has consistently topped Chainalysis’ charts for rapid crypto adoption over the past two years. The country is currently awaiting a discussion paper from the finance ministry, which is expected to clarify its regulatory stance on cryptocurrencies.
In India, cryptocurrency income is taxed at 30%, along with a 1% tax deducted at source (TDS) on each transaction. Meanwhile, crypto advisors are working to educate law enforcement agencies on investigating Web3-related crimes. The sector is also developing self-regulatory guidelines to maintain industry health while awaiting comprehensive legislation in the world’s most populous nation.
Regional Developments
Thailand and Vietnam are actively promoting awareness and understanding of cryptocurrencies while tightening regulations to combat illegal operations and mitigate fraud risks. Recently, Pakistan established a national crypto council, appointing Binance co-founder Changpeng Zhao as its principal advisor.
Bader Al Kalooti from Binance has emphasized that South Asian crypto users are becoming more serious, discerning, and security-conscious. “They are tech-savvy individuals engaging with crypto exchanges multiple times a week, even daily. They are building their knowledge alongside their portfolios. What they seek is not hype or high-risk speculation, but trustworthy platforms, transparent protections, and interactive education,” he stated.
Shogun Lin
