Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Binance has reportedly appointed Richard Teng to oversee the cryptocurrency exchange’s regional markets outside of the United States.
As per the report, Teng’s new position is essentially an extension of his prior duties, which involved leading operations in Asia, Europe, the Middle East, and North Africa.
- In a statement, Chia Hock Lai, chairman of the Blockchain Association Singapore, remarked,
Related Posts
“Richard’s global experience and regulatory expertise, along with his international connections, will benefit Binance as it aims to navigate the intricacies of the worldwide regulatory environment.”
- Teng, who previously served as the CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), was appointed as the Chief Executive of Binance Singapore last June.
- Prior to his role at Binance Singapore, he spent 13 years with the Monetary Authority of Singapore (MAS), where he advanced to the position of Director of Corporate Finance.
- This development occurs at a time when the largest cryptocurrency exchange is facing regulatory scrutiny globally.
- Westpac has prohibited transfers to Binance’s Australian branch as part of its scam protection initiatives. Earlier, Binance had its derivatives license revoked in Australia due to allegations of misleading practices and enabling retail investors to trade high-risk products intended for institutional clients.
- Binance also announced the closure of its Canadian division two years after receiving approval to operate in the country amid increasing pressure on the crypto giant.
- Despite facing regulatory challenges, the CZ-led exchange successfully obtained a digital asset license in Southeast Asia by collaborating with a local firm in Thailand to establish an exchange in the region.
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
