Welcome back to our program.

Our next guest joins us now, Binance's co-CEO,

Richard Tang.

Richard, welcome to the show.

Thanks for having me.

Thanks for being here.

Now, I think you are in an interesting position to carry on the conversation

that we were just having at the desk.

We were talking about regulation in the United Arab Emirates versus regulation here in the Asia

Pacific region. One of the stages yesterday kind of insinuated that there's a little bit of a

regulatory competition between the two jurisdictions. Given your background, I'd love to hear your

perspective. Well, competition is good. Of course, your background, I'd love to hear your perspective.

Well, competition is good. Of course, you know, I helped develop the Abu Dhabi global market

way back in 2015, right? So I think now is a very thriving financial sensor. I claim some credit

on that front. But if you look at it, Binance has decided to take his global license at ADGM now.

So meaning, other than the 21 different jurisdictions that we are regulated in, right,

spanning from Japan in the east all the way to Latin America,

our global users, they are not licensed on the local jurisdiction,

afforded the protection, the governance, the safeguards, compliance of

Abu Dhabi global markets.

So I mean, given our numbers continue to grow very rapidly, we went for 170 million users

at the beginning of 2024 to close at more than 300 million in the end of last year, you know,

...