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An international group of experts with extensive backgrounds in public and corporate governance will advise global cryptocurrency exchange Binance on regulation. The move is indicative of Binance’s focus on compliance and cooperation with regulators, according to management.
Binance, the world’s leading digital asset exchange in terms of trading volume, has established a global council. The body is made up of “distinguished experts in public policy, government, finance, economics and corporate governance,” the coin trading platform said in a press release.
The board’s main 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 expands and evolves, the exchange explained.
The Global Advisory Board, chaired by former US Senator and Ambassador to China Max Baucus, has recently convened in Paris, France. The members come from all corners of 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 executive of Samsung and Hyundai, and Henrique de Campos Meirelles, former president of the central bank and minister of economy. of Brazil.
Binance has been at the forefront of pioneering the world of crypto, blockchain and Web3 for the past five years, company founder and CEO Changpeng Zhao (CZ) said in a statement. During that time, the team has tackled complex problems no one knew existed, he noted, emphasizing:
We have maintained our focus throughout on delivering compliance solutions that protect the interests of crypto users while maintaining a high pace of socially beneficial innovation.
The new advisory board represents the next major step forward in Binance’s journey to share the benefits of modern finance and the blockchain with the world, the CEO elaborated. “Of all the technologies with the potential to create positive disruption, the worlds of crypto, blockchain and Web3 are among the most exciting and most promising,” added Max Baucus.
CZ also emphasized that with the Global Advisory Board, Binance increases its ability to handle regulatory complexity by leveraging the expertise of its members. He described the establishment as a testament to Binance’s focus on compliance, transparency and collaborative relationships with regulators around the world.
The board’s announcement comes after Zhao indicated earlier this week that the largest crypto exchange wants to “go global by playing locally in multiple markets.” The CEO said this in Bucharest, where he revealed that the company is opening a Romanian office and launching a Romanian-language support service as part of plans for further expansion into Eastern Europe.
Do you think the new advisory board will help Binance better navigate crypto regulation in the markets where it operates? Share your expectations in the comments section below.
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