Binance Bets on Seker’s Compliance Expertise to Win Over APAC Regulators

Binance has appointed SB Seker, formerly senior vice president at Crypto.com, as its new head of Asia-Pacific, tasked with overseeing regional operations, cultivating strategic partnerships, and deepening regulatory engagement across the APAC region. In a statement, the exchange emphasized that a central part of Seker’s mandate is to strengthen relationships with policymakers and regulators as Binance seeks to expand its presence in the area. Seker brings over two decades of cross-sector experience, including roles in traditional finance, fintech, and digital assets [1].

Prior to joining Binance, Seker served at Crypto.com Group, where he managed global product development and handled legal and regulatory matters for the APAC and MENASA regions. He has also held senior legal roles at Ant Group, Rothschild & Co, and Amicorp Group. Earlier in his career, he worked as a litigator in Australia and as a central banking lawyer at the Monetary Authority of Singapore [2].

The appointment of Seker is seen as a strategic move amid ongoing regulatory scrutiny in the region, particularly in Australia. Two weeks before the announcement, AUSTRAC ordered Binance’s Australian arm to undergo an independent audit over concerns related to anti-money laundering controls. Experts have described the timing as significant, given the challenges Binance faces in complying with regulatory expectations. James Volpe, founding director of uCubed, noted that Seker’s background positions him well to strengthen Binance’s compliance framework and signal its commitment to meeting APAC standards [3].

Industry analysts view the hiring as an effort to rebuild trust with regulators and demonstrate a proactive approach to compliance. Joni Pirovich, founder of b’dasl, an Australian crypto law firm, remarked that the engagement of an independent auditor by Binance Australia is a crucial but preliminary step. She added that AUSTRAC has various tools to respond to audit findings, including directing the firm to improve systems, imposing restrictions, or taking enforcement action. The selection of Seker, with his extensive regulatory experience, may indicate Binance’s recognition of the importance of cooperation in navigating these challenges [3].

Binance CEO Richard Teng highlighted that Seker’s experience across diverse markets and his deep understanding of regulatory environments make him well-suited to lead the company’s next phase of growth in APAC. Seker himself expressed enthusiasm about the opportunity to drive strategic initiatives and ensure robust operations across the region while fostering innovation and compliance in the digital-asset ecosystem [2].

According to trading volume data, Binance remains the world’s largest crypto exchange, with its monthly spot market volume reaching $724.6 billion in the most recent month, compared to $706.1 billion in July. Bybit and Bitget followed with volumes of $124.4 billion and $124 billion respectively, according to The Block’s data dashboard [1].

Source: [1] Binance taps ex-Crypto.com executive as APAC head to ... (https://www.theblock.co/post/368874/binance-new-apac-head) [2] Binance names SB Seker its new Head of APAC (https://fxnewsgroup.com/forex-news/executives/binance-names-sb-seker-its-new-head-of-apac) [3] Binance Taps Compliance Veteran for APAC Role as ... (https://finance.yahoo.com/news/binance-taps-compliance-veteran-apac-053702648.html)