{"id":197348,"date":"2021-08-23T11:00:09","date_gmt":"2021-08-23T10:00:09","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=197348"},"modified":"2021-08-23T14:14:12","modified_gmt":"2021-08-23T13:14:12","slug":"binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit\/","title":{"rendered":"Binance (BNB) signs up ex-Singapore Exchange chief as regulatory troubles loom"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Binance, the largest crypto exchange in the world by trading volume, in its bid to combat its battle with regulatory authorities around the world has appointed Richard Teng, the former chief regulatory officer of the Singapore Exchange (SGX), as the head of its Singapore\u2019s branch.<\/span><\/p>\n<h2><strong>Binance hiring regulatory chiefs to be regulatory compliant<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Teng, in his previous capacity as a regulatory enforcer, had seen to the formulation and administration of Singapore\u2019s Securities and Futures Act. Apart from that, his experience in the field is spread across the Monetary Authority of Singapore (MAS) and also the Abu Dhabi Global Market. All of this points to an experienced authority in the financial market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mr Teng, while speaking on the new appointment said \u201cwe are witnessing rapid mainstream adoption of the blockchain and crypto technology, leading to the need for greater understanding and appreciation amongst individuals, institutions, and governments.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400;\">He continued that \u201cwe seek to work closely with industry leaders and policymakers to enhance understanding of this fast-growing industry and support its sustainable growth.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This view was also corroborated by Changpeng Zhao, Binance CEO, who hailed Richard Teng for his previous works. Zhao said, \u201cWe are delighted to have Richard leading the Binance Singapore team in securing more strategic partnerships, fostering innovation, and furthering the local cryptocurrency ecosystem in Singapore.\u201d\u00a0<\/span><\/p>\n<h2><strong>Binance regulatory compliance efforts<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">We <\/span><a href=\"https:\/\/cryptoslate.com\/binance-bnb-makes-kyc-mandatory-for-every-service-on-its-platform\/\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> that Binance, after facing a torrent of regulatory clampdowns, has mandated all users on its platform to complete their verifications so as to continue enjoying its services. The exchange had stated that this was important for it to become compliant with global regulators Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the report \u201call new users (have) to complete Intermediate Verification as it would give them access to Binance products and service offerings, such as cryptocurrency, deposits, trades, and withdrawals. Intermediate Verification includes the submissions of government-issued ID as well as facial Verification.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, hiring a former regulatory enforcer like Richard Teng, as Zhao said, would help them become \u201ca leader in regulatory compliance.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance, the largest crypto exchange in the world by trading volume, in its bid to combat its battle with regulatory authorities around the world has appointed Richard Teng, the former chief regulatory officer of the Singapore Exchange (SGX), as the head of its Singapore\u2019s branch. Binance hiring regulatory chiefs to be regulatory compliant Teng, in [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":197329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60209,60793,11],"tags":[76230],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance (BNB) signs up ex-Singapore Exchange chief as regulatory troubles loom<\/title>\n<meta name=\"description\" content=\"Binance Singapore has appointed Richard Teng, former regulation enforcer, as its new CEO in order to become regulatory compliant.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance (BNB) signs up ex-Singapore Exchange chief as regulatory troubles loom\" \/>\n<meta property=\"og:description\" content=\"Binance Singapore has appointed Richard Teng, former regulation enforcer, as its new CEO in order to become regulatory compliant.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-23T10:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-23T13:14:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/08\/binance-regional-head.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-bnb-signs-up-ex-singapore-exchange-chief-to-head-regional-unit\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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