Africa’s crypto boom is accelerating. Binance’s Larry Cooke speaks on what regulation means for the continent

Crypto has never been particularly good at waiting. Across Africa, people have adopted digital assets to move money across borders, navigate currency volatility and access financial services outside traditional banking systems.

But regulators are now catching up, with countries across the continent moving to establish clearer rules for the industry.

For Binance, one of the world’s biggest crypto exchanges, that means preparing for a market where growth will increasingly come with regulatory scrutiny. Larry Cooke, Binance’s Africa spokesperson, says the company sees regulation as an important part of the industry’s next phase.

In an interview with Business Insider Africa, Cooke discussed how Binance is preparing for a more regulated African crypto market and what the changing rules could mean for adoption, innovation and the millions of Africans already using digital assets.

BIA: Many African governments have taken different approaches to crypto, from outright restrictions to licensing frameworks. What does an ideal regulatory model for Africa look like?

The ideal regulatory model for Africa should be risk-based, technology-neutral and harmonised across borders rather than relying on outright bans. Governments should license and supervise crypto exchanges, custodians, stablecoin issuers and other virtual-asset service providers, with strong AML/KYC, consumer-protection, cybersecurity and asset-segregation requirements while allowing lower-risk blockchain innovation to develop through dynamic sandboxes and proportionate rules.