Binance names Teng as head of regional markets outside US
Reuters
Published May 29, 2023 08:00AM ET
(Reuters) - Binance has appointed Richard Teng to head its regional markets outside the United States, at a time when the world's largest cryptocurrency exchange has been facing scrutiny from U.S. regulators over compliance issues.
Teng, who revealed his promotion on his LinkedIn profile, is already heading regions like Asia, Europe and the Middle East. He joined Binance as CEO of Singapore in August 2021.
Teng will begin his new role on Monday.
The development comes at a time when Binance has been under fire for non-compliance issues from U.S. authorities, while it has faced pressure in other countries as well.
It withdrew from Canada earlier this month as the country set tight regulations for crypto asset trading platforms, while Australia cancelled the company's financial services license last month amid a regulatory probe.
Before joining Binance, Teng held positions in various financial institutions such as Singapore Exchange (OTC:SPXCY) Ltd, Monetary Authority of Singapore and Abu Dhabi Global Market.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.