At a time when U.S. regulators are scrutinizing Binance’s compliance difficulties, the world’s largest cryptocurrency exchange has chosen Richard Teng to lead its regional markets outside the U.S.
Teng, who announced his promotion on LinkedIn, leads Asia, Europe, and the Middle East. He became Binance Singapore CEO in August 2021.
Teng starts Monday. U.S. and international authorities have criticized Binance for non-compliance.
It left Canada earlier this month after the country tightened crypto asset trading platform restrictions, and Australia revoked its financial services license last month after a regulatory review.
Teng worked at Singapore Exchange Ltd., the Monetary Authority of Singapore, and Abu Dhabi Global Market before joining Binance.