An international group of experts with extensive experience in public and corporate governance will advise global cryptocurrency exchange Binance on regulation. The move is an indication of Binance’s emphasis on compliance and working with regulators, according to its management.
Crypto Exchange Binance Obtains Qualified Advice on Regulatory Matters
Binance, the world’s largest digital asset exchange by trading volume, has established a global advisory board. The body is made up of “leading experts in public policy, government, finance, economics and corporate governance,” the coin trading platform said in a press release.
The council’s primary task will be to advise Binance on how to deal with the most complex regulatory, political and social issues facing the entire crypto industry as it develops and evolves, the company explained. ‘exchange.
The Global Advisory Council, chaired by former US Senator and Ambassador to China Max Baucus, recently met in Paris, France. Its members come from all corners of the globe, including Europe, Africa and South America.
Among them, Bruno Bézard, former head of the French Treasury and adviser to the government, Hyung-rin Bang, adviser to the Korean Presidential Committee and former executive at Samsung and Hyundai, and Henrique de Campos Meirelles, former president of the central bank and minister of the ‘economy. from Brazil.
Binance has been at the forefront of the world of crypto, blockchain and Web3 for the past five years, company founder and CEO Changpeng Zhao (CZ) said in a statement. During this time, his team tackled complex issues that no one even knew existed, he noted and underscored:
We have maintained our goal throughout to provide compliance solutions that protect the interests of crypto users, while maintaining a steady pace of socially beneficial innovation.
The new advisory board represents the next big step in Binance’s journey to share the benefits of modern finance and blockchain with the world, the CEO explained. “Of all the technologies that have the potential to create positive disruption, the world of crypto, blockchain and Web3 is among the most exciting and promising,” Max Baucus added.
CZ also pointed out that with the Global Advisory Board, Binance is increasing its ability to manage regulatory complexity by tapping into the expertise of its members. He described its creation as a testament to Binance’s focus on compliance, transparency, and collaborative relationships with regulators around the world.
The council announcement comes after Zhao earlier this week noted that the largest crypto exchange wants to “go global by playing locally in multiple markets”. The CEO said that in Bucharest, where he revealed that the company was opening a Romanian office and launching a Romanian-language help desk as part of expansion plans in Eastern Europe.
Do you think the new advisory board will help Binance better navigate crypto regulation in the markets it operates in? Share your expectations in the comments section below.
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