Binance, the world's largest digital asset exchange in terms of daily trading volume, has named Kyrylo Khomiakov as the new head for Central and Eastern Europe (CEE) and Central Asia. Khomiakov, who previously held the position of Binance's General Manager for CEE, will now oversee a broader scope of responsibilities.

In his new role, Khomiakov will lead teams responsible for enhancing products and services, improving the user experience, and expanding the company's business footprint in the region. Additionally, he will take charge of Binance's marketing strategies and government relations efforts.

Richard Teng, the head of regional markets at Binance, emphasized the importance of Khomiakov's appointment due to his deep understanding of the local markets and his integral role within the organization. The move is seen as a strategic decision to efficiently allocate resources and maintain Binance's position in the specified regions.

Kyrylo Khomiakov initially joined Binance in January 2022, where he was initially responsible for the Ukraine market. He later took on the role of overseeing Binance's operations in the entire CEE region. Now, his responsibilities extend to managing Binance's presence across 14 countries in Central and Eastern Europe as well as Central Asia.

Khomiakov expressed enthusiasm about the opportunity to contribute to the expansion of the cryptocurrency industry in these regions, emphasizing the importance of building a local presence to gain trust and develop products that benefit users.

Amidst increased regulatory scrutiny in the US and EU, Binance has expanded in Eastern Europe and the post-Soviet region, with actions like opening an office in Romania, establishing a blockchain hub in Georgia, launching educational programs in Kazakhstan, and aiding Azerbaijan in crypto regulation. However, in late September, Binance exited the Russian market, selling its Russian business, leading to the departure of top executives in Eastern Europe and the CIS, as well as similar executive departures in the UK and France during the year.