Binance Wants Former Abu Dhabi Global Market Head as Asia CEO: Report

Binance, the crypto exchange that has come under increasing regulatory scrutiny worldwide, is in talks with the former head of the Abu Dhabi Global Market to take charge of its Asia business, Bloomberg reported Tuesday, citing people familiar with the matter.

• Richard Teng was approached by the world's largest crypto exchange about serving as CEO of its Asian operations, Bloomberg said.

• It is not clear whether Teng has accepted the role.

• Teng was the CEO of Abu Dhabi Global Market for six years until March.

• He also spent more than seven years as chief regulatory officer of the Singapore Exchange, following 13 years with the Money Authority of Singapore.

• Binance has been more proactive in dealing with regulators amid the heightened scrutiny from regulators around the world in recent months. Last month, CEO Changpeng Zhao announced the company is seeking someone with a strong regulatory background to replace him.