Binance Appoints Kyrylo Khomiakov As Regional Head For CEE & Central Asia

The world’s largest crypto exchange Binance on Thursday said it named Kyrylo Khomiakov as regional head for both Central and Eastern Europe (CEE) and Central Asia regions. Amid several challenges faced by the crypto exchange globally, Binance is set to continue working on expansion, fiat partners, and its other objectives.

Binance Names Kyrylo Khomiakov as Regional Head for CEE & Central Asia

Binance in a blog post on October 26 announced Kyrylo Khomiakov’s promotion to regional head for both both Central and Eastern Europe (CEE) and Central Asia regions.

Binance teams under these regions will work under Kyrylo Khomiakov to focus on products and services offered by the exchange. A significant focus will be on company growth, education initiatives, and fiat channels development. Khomiakov will help improve Binance’s industry leadership, marketing strategy, and relations with governmental and public entities in these markets.

Richard Teng, Binance’s regional head, said:

“These diverse and truly unique regions are critical to our company. Having Kyrylo, who possesses a deep understanding of these local markets and plays an integral role in the Binance organization, taking responsibility for these regions is crucial.”

Binance under Kyrylo Khomiakov’s leadership worked to expand its presence in Ukraine in the last few years. Khomiakov has served as the CEO of the State Agency of Infrastructure Projects of Ukraine and CEO of a blockchain software development company.

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Regulatory and Operational Challenges Faced by the Exchange

Binance has faced multiple setbacks in the last few years, especially in the US. The heightened scrutiny after the collapse of FTX and regulatory challenges by regulators impacted Binance significantly.

Currently, Binance, Binance.US, and CZ have urged the court to dismiss the lawsuit by the U.S. Securities and Exchange Commission (SEC). The defendants claim the SEC has overreached its authority to regulate crypto assets without official consent from the U.S. Congress and irrationally considered crypto assets as securities.

Also Read: Court Approves Coinbase’s Request For Oral Arguments In SEC Lawsuit