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Regulators in the U.K. have banned Binance from operating in the country, while places like Hong Kong and Japan have issued warnings against the exchange. In response, Binance has taken a series of measures in an effort to comply to an evolving patchwork of regulations in different markets. The firm has been winding down its product offerings, stepping up customer verification procedures and expanding its team with staff who have regulatory compliance experience. Last month, Binance appointed former chief regulatory officer of the Singapore Exchange, Richard Teng, as CEO of its Singapore affiliate. “We are ready to assist regulators from around the world and together find the optimal way to set a fair playing field—consumer protection is important to all of us,” the spokesperson from Binance said. “We are committed to our industry for the long term and want to create a sustainable ecosystem around blockchain technology.” 15 Tips to Enhance Security for Your Binance Account. 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