In brief
- Binance has appointed SB Seker as Head of Asia-Pacific on Monday, who brings over 20 years of legal and regulatory experience.
- The hiring comes weeks after AUSTRAC ordered Binance Australia to undergo an independent audit, citing “serious concerns” about anti-money laundering controls vulnerable to illicit money flows.
- Industry experts view the appointment as a compliance strategy reinforcement and a signal to regulators that Binance is serious about meeting APAC standards.
Binance has appointed compliance veteran SB Seker as its new Head of Asia-Pacific, as the world’s largest crypto exchange seeks to navigate regulatory headwinds in the region.
The appointment comes just two weeks after AUSTRAC ordered Binance’s Australian arm to undergo an independent audit, citing “serious concerns” relating to anti-money laundering controls that could expose the platform to illicit money flows.
Industry experts have viewed the move as both strategic and timely, given the exchange’s ongoing compliance challenges in Australia.
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Author: Vismaya V
