Cryptocurrency exchange giant Binance has appointed a former CEO of the Singapore Exchange (SGX) as the working operator of Binance Singapore.
In an announcement on Monday, Binance shared that Richard Teng has joined the corporation as CEO of Binance Singapore, as portion of an work to calm worldwide regulators. .
According to the announcement, Teng was most lately CEO of the Financial Services Regulatory Authority of Abu Dhabi Global Markets. Previously, he was CEO of SGX, which managed and operated the regulatory division accountable for the policy framework for listing and trading pursuits.
Mr. Teng also has 13 many years of knowledge at the Monetary Authority of Singapore, the city’s de facto central financial institution.
“I appear forward to partnering with the talented Binance Singapore workforce to drive business enterprise development in a responsive and sustainable way, meeting investor wants, adhering to very best practices and meeting specified requirements. We seek out to perform closely with market leaders and policymakers to advance comprehending of this rapidly-increasing market and assistance the sustainable development of exchange. “
The move comes amid enhanced regulatory strain on Binance in latest months from numerous jurisdictions like the US, United kingdom, Singapore, Hong Kong, and European Union nations.
Binance.US, the exchange’s companion in the United States, lately misplaced Brian Brooks as CEO. The former Controller of Currency left the corporation a number of months soon after he was appointed. Binance.US is nevertheless searching to increase a $ one hundred million round in spite of acquiring a tricky time closing companies to US traders due to regulatory issues.
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The Binance Singapore publish appoints former SGX CEO as CEO initial appeared on Coinlive.