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.
James Volpe, founding director of Melbourne-based Web3 education firm uCubed, told Decrypt that “SB Seker’s background positions him as someone consistently brought into complex environments to strengthen compliance and regulatory frameworks.”
“For Binance, the appointment reinforces its compliance strategy while also signalling to regulators and users that it is serious about meeting standards in APAC,” he said.
Seker brings over 20 years of cross-sector experience, including roles as a litigator in Australia and a central banking lawyer at the Monetary Authority of Singapore.
Most recently, he served as Senior Vice President at Crypto.com Group, overseeing global product development and regulatory matters.
Last month, AUSTRAC ordered Binance Australia to nominate external auditors after finding inadequate independent reviews and high staff turnover, with 18 days remaining to comply.
“AUSTRAC’s move is significant, sending a message that crypto exchanges must be held to the same standards of responsibility and compliance as traditional financial institutions, setting a precedent for closer scrutiny across the industry,” Volpe explained.
Joni Pirovich, founder of Australian crypto specialist law firm b’das*l, told Decrypt that “the appointment of an independent auditor is a serious but early step.”
She said AUSTRAC has “a range of tools to deal with findings from the auditor,” including directing Binance to remedy systems, enforcement action, further audits, imposing registration restrictions, and “in the worst case, to suspend or revoke the registration.”
“The hire of Seker could well mean that Binance recognizes the skills and experience needed for best cooperation with AUSTRAC and the auditor, and a best-case outcome,” Pirovich added.
In his new role, Seker will oversee regional operations and drive market adoption across APAC while strengthening engagement with policymakers.
“I’m truly excited to join Binance to help shape a sustainable, innovative, and compliant future for the digital-asset ecosystem across the region,” Seker said in a statement on Sunday.
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