In the ever evolving decentralized finance (DeFi), crypto innovation isn’t just surviving; it’s thriving, thanks to those who’re calling the clever shots on regulation. These were the sentiments expressed by Vugar Usi Zade, the Chief Operating Officer of Bitget who believes the right kind of regulation empowers crypto innovation.
He expressed these views at a panel discussion themed “DeFi Risk Management in a Post-Crisis World,” as part of Future Blockchain Summit which kicked off on October 12, 2025 at Dubai Harbour in the United Arab Emirates.
“Regulation usually depends on who regulates and what their interest is behind the rules,” Usi Zade said, turning the spotlight on a global playground which subtly steer crypto innovation.
Crypto Innovation and Regulation Around the World
Usi Zade was of the opinion that Indian regulators for instance are like eagle-eyed tax collectors on a treasure hunt.
“Take for example India, we see that regulators’ interest is about taxation and understanding how much money is there”, he said.
“Yesterday there was a huge run after the different wallet holders to understand who is stealing how much.”
He then shifted his focus to Europe, where regulators take a more approachable but cautious approach. Usi Zade is of the view that Europe is careful to craft a cozy “insurance bubble”.
“On the other hand, when we look at European regulators, they try to kind of avoid problems and their regulation is more about building this bubble of insurance to make sure that no one can come and take their reliability away”, he noted.
Europe implements tougher licenses and data rules, taming wild DeFi experiments. As a matter of fact, EU’s MiCA rules born from FTX fallout fears, prioritize stability like a vigilant lifeguard at a pool party.
This means while it draws big players and is far from its chaotic early days, Europe is still buzzing with so much more potential for crypto innovation.
Meanwhile, looking at how the Middle East has embraced decentralized finance, Usi Zade does seem convinced that the region is making all the clever moves, so far.
He added that Middle Eastern regulators are primarily concerned about attracting more foreign investment.
“And in the Middle East, the idea is how much foreign investment we can attract”, he said.
“And therefore we have to, whenever we talk about regulation, we have to look into who regulates and what is the motivation behind.”
Zade believes understanding the motivation of regulators helps all stakeholders navigate the crypto space better.
Do Smaller Nations Play Copycat?
Usi Zade is of the opinion that smaller nations are heavily influenced by their bigger counterparts when it comes to crypto innovation.
“Small nations usually copy from each other or other powerful players, and I think that is another important aspect to understand”, he added.
“For example, Russia is very dominant in CIS, Europe is dominant across the post colony countries. Therefore, whenever legislation comes there, we can expect that similar registration will be applied by the smaller nations too.”
In this context, Usi Zade reiterated the importance of making the right moves and enforcing clever regulation to empower crypto innovation.
About Future Blockchain Summit
The Future Blockchain Summit is MENA region’s premier blockchain and Web3 conference, designed to fuel innovation in decentralized technologies, crypto, and emerging fintech trends. It is held annually in Dubai.
The Future Blockchain Summit is currently under way at Dubai Harbour. It brings together industry leaders, startups, investors, regulators, and tech enthusiasts for immersive discussions, networking, and hands-on experiences.
The Coin Medium team will be at the venue. Reach out to us on location or on social media for more information.
