Ferrari retains the right to veto decisions that Formula 1 wishes to push through - a power that it has possessed since the 1980s.
The 2021 regulations are set to be signed off at the end of October next month, but Binotto insists that Ferrari is focused on working with the rest of the teams for the benefit of the sport, rather than using its power of vetoing decisions.
"We've got the veto right, but it would be a shame to use it," Binotto told media including GPToday.net. "I don't think that's the intention, I don't think that's what we are looking for.
"It's important to be constructive and we've got a month now to address what's at the fundamentals from now until the end of October.
"If the regulations will not be fully satisfactory at the time of the end of October, I don't think it will be a drama because later on, we have still got time to evolve, address and improve them."
Binotto added that Ferrari is concerned about how "prescriptive" the regulations are set to be, stating that he wishes for there to be more freedom to develop.
"There are a few things that are very important for us, first of which is the degree of freedom on development and the aerodynamics, which we think is too prescriptive, the degree of freedom on other parts of the car where some prescription has been said.
"These are the keys points, and I think there is still room for collaboration and making a different choice to what has been achieved so far.
"So again, we are more focused on trying to collaborate and address what we believe is fundamental, rather than what we say that we have the veto right."
Bahrain International Circuit - Winter testing