Could 29 (Reuters) – Binance has appointed Richard Teng to go its regional markets outdoors the USA, at a time when the world’s largest cryptocurrency trade has been going through scrutiny from U.S. regulators over compliance points.
Teng, who revealed his promotion on his LinkedIn profile, is already heading areas like Asia, Europe and the Center East. He joined Binance as CEO of Singapore in August 2021.
Teng will start his new position on Monday.
The event comes at a time when Binance has been underneath fireplace for non-compliance points from U.S. authorities, whereas it has confronted strain in different nations as nicely.
It withdrew from Canada earlier this month because the nation set tight laws for crypto asset buying and selling platforms, whereas Australia cancelled the corporate’s monetary providers license final month amid a regulatory probe.
Earlier than becoming a member of Binance, Teng held positions in varied monetary establishments equivalent to Singapore Alternate Ltd, Financial Authority of Singapore and Abu Dhabi World Market.
Reporting by Priyamvada C in Bengaluru; Modifying by Savio D’Souza
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