Binance CEO Changpeng Zhao (CZ) has expressed concern about India’s protectionist policies, arguing they hinder economic growth and competitiveness. The Indian rupee recently hit a record low of 88.44 against the US dollar due to tariffs and global market fluctuations, prompting CZ to criticize these measures as detrimental to long-term success. He emphasizes that open innovation is vital for sustainable growth instead of relying on restrictive trade policies. CZ’s comments come amid India’s ongoing struggle to balance domestic priorities with international trade tensions. 2025 reports show the Indian government continues to delay strict crypto regulations, despite a rapid surge in cryptocurrency adoption across the world. While some officials express concern over systemic risks, others believe legalization would foster legitimacy, and prohibition would not stop peer-to-peer trading.