Binance has appointed a new executive to lead its APAC operations as the exchange pushes to strengthen oversight and repair strained regulatory ties in one of its top markets.
Summary
- Binance has appointed SB Seker as its new Head of APAC to oversee regional strategy, compliance, and regulatory engagement.
- The appointment comes amid increased regulatory scrutiny, including an independent audit ordered by AUSTRAC in Australia.
In an announcement on September 1, Binance named SB Seker as the new Head of its Asia-Pacific operations. The new appointee will be responsible for shaping compliance strategy, engaging with regulators, and driving the company’s business development across the region.
Seker brings over two decades of global legal and compliance experience. Previously serving as Senior Vice President at Crypto.com, he worked across APAC and MENASA regions, leading product development, legal strategy, and regulatory negotiations.
Prior to that, he held senior roles at various firms with a focus on compliance and financial law, building on his background as a litigation lawyer in Australia and as a central banking lawyer at the Monetary Authority of Singapore (MAS).
Binance CEO Richard Teng underscored the importance of the hire, saying, “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.”
In his own statement, Seker said he was excited to help shape a compliant future for the digital-asset ecosystem across APAC. “By working closely with regulators, partners, and our broad community, I look forward to driving strategic initiatives and delivering robust operations throughout the region” he said
Binance APAC head appointment follows Australian crackdown
Binance’s decision to appoint Seker reflects its ongoing effort to reassure regulators in APAC. The exchange has faced challenges over weak compliance, anti-money laundering (AML) measures, and local governance.
In late August, the Australian Transaction Reports and Analysis Centre (AUSTRAC) ordered the local arm of the exchange to undergo a full-scale audit. The regulator raised serious concerns over its AML and counter-terrorism financing (CTF) controls, adding that the independent reviews conducted by the exchange were too narrow to match the scale of its operations.
The regulator also highlighted significant compliance staff turnover, insufficient local resources, and inadequate senior leadership oversight as deficiencies unacceptable for a company of its risk profile.
Binance Australia was given 28 days to propose a panel of external auditors, from which AUSTRAC would select. Once finalized, the audit will examine Binance’s policies, procedures, and systems in detail with findings reported back directly to AUSTRAC.
Though the exchange has yet to provide an update regarding the audit, the appointment of SB Seker signals intent to strengthen its compliance and regulatory engagement in the region.
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