Binance Creates Global Advisory Board to Tackle Regulatory Challenges – Exchanges Bitcoin News
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An international group of experts with an extensive background in public and corporate administration is advising the global cryptocurrency exchange Binance on regulation. The move is a sign of Binance’s focus on compliance and cooperation with regulators, according to its management.
Crypto Exchange Binance offers qualified advice on regulatory issues
Binance, the world’s leading digital asset exchange by trading volume, has established a Global Advisory Board. The coin trading platform stated in a press release that it consists of “distinguished experts in public policy, administration, finance, economics and corporate governance”.
The board’s main role is to advise Binance on how to address the most complex regulatory, political and social issues facing the entire crypto industry as it expands and evolves, the exchange explained.
The Global Advisory Board, chaired by former US Senator and Ambassador to China Max Baucus, has recently met in Paris, France. Its members come from all over the world, including Europe, Africa and South America.
Among them are Bruno Bézard, former head of the French finance ministry and government adviser, Hyung-rin Bang, adviser to the Korean presidential committee and former head of Samsung and Hyundai, and Henrique de Campos Meirelles, former central bank governor and economy minister. From Brazil.
Binance has been a pioneer in the world of crypto, blockchain and Web3 for the past five years, company founder and CEO Changpeng Zhao (CZ) said in a statement. In that time, its team has tackled complex issues that no one even knew existed, he noted, emphasizing:
We have always focused on delivering compatibility solutions that protect the interests of crypto users while maintaining a rapid pace of socially beneficial innovation.
The new advisory board is the next big step forward in Binance’s journey to share the benefits of modern finance and blockchain with the world, explained the CEO. “Of all the technologies that can cause positive disruption, the world of crypto, blockchain and Web3 are the most exciting and promising,” added Max Baucus.
CZ also emphasized that with the Global Advisory Board, Binance will increase its ability to manage regulatory complexity by leveraging the expertise of its members. He described its establishment as a demonstration of Binance’s focus on compliance, transparency and collaborative relationships with regulators around the world.
The board’s announcement comes after Zhao announced earlier this week that the largest crypto exchange wants to “go global by playing locally in multiple markets.” The CEO said in Bucharest, where he revealed that the company will open a Romanian office and launch a Romanian-language support service as part of plans to expand further into 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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