In a bid to boost its business in the Commonwealth of Independent States (CIS) region, the exchange has appointed former government officials from Russia and Ukraine to expand its operations in the region.
For Russia, Binance has hired the former head of the Department of Collection and Processing of Reports at the Bank of Russia Olga Goncharova as its GR Director. In addition, the exchange tapped Vladimir Smerkis, co-founder of Tokenbox crypto fund platform, as the Director of Binance Russia.
On the other hand, Binance has recruited Kirill Khomyakov as the general manager for its Ukraine branch. Khomyakov was working as the director of the State Agency for Infrastructure Projects of Ukraine till July 2021 and has headed leading positions at Intesa San Paolo, BNP Paribas, Piraeus Bank, and Mellon Ukraine.
Gleb Kostarev, director of Binance in Eastern Europe, said in the announcement:
“Both globally and locally, we understand the importance of attracting leading specialists in the fields of GR, marketing and management to our team. The new CEOs, with their proven track record, will certainly have a positive impact on Binance’s growing presence in Russia, Ukraine and Eastern Europe.”
Binance has been pushing for compliance for quite some time now. Since its inception in July 2017, Binance has become the world’s largest crypto exchange by trading volume, and its founder and CEO, Changpeng Zhao, recently became the richest crypto billionaire at $96 billion net worth.
While the exchange was heartedly accepted by crypto enthusiasts, it failed to establish relations with regulators across the world. It has increasingly come under scrutiny from several regulators from various countries, including Hong Kong, Japan, Singapore, the UK, and more.