Binance Names Ex-Crypto.com Exec to Navigate APAC's Regulatory Maze

Binance has appointed SB Seker, a former senior executive at Crypto.com, as its new head of Asia-Pacific operations to lead the company’s strategic expansion and regulatory engagement in the region. In his role, Seker will focus on strengthening Binance’s relationships with policymakers and regulators across APAC markets, a key component of the exchange’s growth strategy. According to Binance, this move underscores the company’s commitment to navigating the region’s evolving regulatory environment while maintaining a strong presence in one of the world’s most dynamic cryptocurrency markets.

Seker brings over two decades of experience in fintech, legal, and regulatory affairs to his new position. Previously, he served as senior vice president at Crypto.com Group, where he managed global product development and legal matters for the APAC and MENASA regions. Before joining Crypto.com, he held senior legal roles at Ant Group, Rothschild & Co, and Amicorp Group. His professional background also includes experience in litigation in Australia and a stint as a central banking lawyer at the Monetary Authority of Singapore.

Richard Teng, CEO of Binance, emphasized that Seker’s extensive experience in the region positions him to lead the company’s next phase of growth. “APAC has always been a key region for Binance, and Seker’s deep-rooted experience across its diverse markets makes him uniquely positioned to lead the company’s next phase of regional growth and engagement,” Teng said. Seker also shared his vision for the role, stating that he looks forward to working closely with regulators, partners, and the community to drive strategic initiatives and deliver robust operations across the region.

Binance’s decision to strengthen its APAC leadership comes amid broader regulatory challenges the firm has faced in 2023, including a $4.3 billion settlement with the U.S. Securities and Exchange Commission (SEC). Binance founder Changpeng Zhao also pleaded guilty to regulatory violations and served a four-month prison sentence in the U.S. Additionally, the exchange has been subject to scrutiny from regulators in other jurisdictions, including AUSTRAC in Australia, which raised concerns over Binance’s anti-money laundering (AML) controls and required an external audit for its Australian operations.

Despite these challenges, Binance remains the world’s largest cryptocurrency exchange by trading volume. In August, its monthly spot market volume increased to $724.6 billion, according to The Block's data dashboard. The APAC region, which accounts for 60% of global crypto users and a significant share of market liquidity, represents a strategic focus for Binance as it seeks to balance regulatory compliance with market expansion.

Source: [1] Binance taps ex-Crypto.com executive as APAC head to ... (https://www.theblock.co/post/368874/binance-new-apac-head) [2] Binance Gets New APAC Head to Oversee Regulatory ... (https://finance.yahoo.com/news/binance-gets-apac-head-oversee-084010199.html)