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Binance Taps Compliance Veteran SB Seker as New APAC Chief Amid Regulatory Scrutiny in Australia
- Binance has appointed SB Seker as its new head of Asia-Pacific operations, tasking him with strengthening regulatory relations and driving strategic growth in the region.
- Seker’s appointment comes amid significant regulatory pressure on the exchange, including an order from AUSTRAC for an external audit of its Australian subsidiary due to “serious concerns” about its AML framework.
- Binance CEO Richard Teng stated that the Asia-Pacific region is a “priority market” for the company, as it accounts for over 60% of global crypto users and has a more progressive regulatory environment than the US.
Crypto giant Binance recently appointed SB Seker to lead its Asia-Pacific operations. The exchange said Seker will focus on strengthening relations with regulators and steering strategic initiatives in a region it sees as critical to future growth.
Worth noting that the news comes as pressure mounts in Australia, with AUSTRAC having identified “serious concerns” with Binance Australia’s anti-money laundering and counter-terrorism financing controls, ordering the firm to appoint an external auditor.
Related: JPMorgan Commits US$500M to AI Hedge Fund Numerai, Doubling Crypto-Friendly Manager’s Assets
A Priority Market for Binance
Richard Teng, Binance’s CEO, called Asia-Pacific “a priority market” and noted that several jurisdictions there are advancing crypto regulation more quickly than the United States.
Seker has over 20 years of experience in law, finance, and knowledge in the blockchain industry, having started his career as a litigator in Australia before working as a central banking lawyer at the Monetary Authority of Singapore.
He later held senior legal roles at Ant Group and Amicorp Group, and most recently managed product, legal, and regulatory affairs across APAC at Crypto.com. At Binance, he will be tasked with navigating regulatory expectations while maintaining operational growth.
I’m truly excited to join Binance to help shape a sustainable, innovative, and compliant future for the digital- asset ecosystem across the region alongside the talented team. By working closely with regulators, partners, and our broad community, I look forward to driving strategic initiatives and delivering robust operations throughout the region.
SB Seker, new Head of APAC at Binance. The Asia-Pacific region accounts for about 60% of global crypto users and provides the deepest liquidity pools, according to research by Foresight Ventures and Primitive Ventures.
Binance remains the world’s largest exchange by trading volume. Its spot market activity reached US$724.6B (AU$1.1T) in August, up from US$706.1 billion (AU$1.07 trillion) in July, according to The Block Data.
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Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
