An international group of experts with extensive backgrounds in public and corporate governance will advise global cryptocurrency exchange Binance on regulatory matters. The move is a sign of Binance’s focus on compliance and cooperation with regulators, according to the company’s management.
Crypto exchange Binance will ensure qualified regulatory advice
Binance, the world’s leading digital asset exchange by trading volume, has established a global advisory board. The organization consists of “prominent experts in public policy, government, finance, economics, and corporate governance,” the coin trading platform said in a press release.
The board’s main task 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 U.S. Senator and Ambassador to China Max Baucus, recently convened in Paris, France. Its members come from all over the world, including Europe, Africa, and South America.
They include Bruno Bézard, former French finance minister and government advisor; Bang Hyunlin, advisor to the South Korean Presidential Commission and former executive at Samsung and Hyundai Motor; and Henrique de Campos Meirelles, former president of Brazil’s Central Bank and minister of economy.
Binancehas been at the forefront of pioneering the world of crypto, blockchain, and Web3 for the past five years, said company founder and CEO Changpeng Zhao (CZ) in a statement. During that time, he noted, the company’s team has tackled complex problems that no one knew existed, stressing that.
We have maintained our focus throughout on providing compliance solutions that protect the interests of crypto users while maintaining an active 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 blockchain with the world, the CEO elaborated.” Of all the technologies with the potential to create positive disruption, the world of crypto, blockchain, and Web3 is one of the most exciting and most promising.” Max Baucus further added.
CZ also stressed that with the Global Advisory Board, Binance is better able to leverage the expertise of its members and manage regulatory complexities. He described its establishment as a testament to Binance’s focus on compliance, transparency, and collaboration with regulators around the world.
The board’s announcement came after Zhao earlier this week indicated that the largest crypto exchange wants to “go global by playing locally in multiple markets,” the CEO said in Bucharest, and as part of the company’s plans for further expansion into Eastern Europe opening a Romanian office and launching Romanian-language support services.
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