TL;DR Breakdown Richard Teng, a regulation expert appointed as Binance CEO in Singapore.Teng ready to help exchange overcome regulatory hurdle. Binance exchange has announced the appointment of Richard Teng, the former chief regulatory officer of the Singapore Stock Exchange (SGX) to head its Singapore operation. This is in line with the exchange’s effort to overcome regulatory hurdle it faces with regulators globally. Binance over the past months has faced regulatory pressure from multiple jurisdictions including the U.S., the U.K., Singapore, Hong Kong and European Union countries. The exchange in the announcement referenced that the new Singapore CEO in the past has also served as the CEO of Financial Services Regulatory Authority at Abu Dhabi Global Market before he headed SGX. Teng has much experience under his belt while heading the SGX. He oversaw the regulation division in charge of policy framework relating to listing, trading, and clearing activities. Apart from that, the new CEO has also worked for 13 years at the Monetary Authority of Singapore, the city state’s de facto central bank. Teng optimistic upon Binance appointment While reacting to his appointment, Teng expressed optimism noting that he looks forward to working with the talented team at Singapore to improve business growth. He also spoke about the exchange meeting the needs of investors, adhering with best practices and complying with regulator...
