Binance Sets Up Global Advisory Board to Tackle Regulatory Challenges
The Binance Global Advisory Board, comprising a group of experts
from multiple disciplines with an extensive background in public and corporate
governance, will now advise the global cryptocurrency exchange on regulation.
The tactical move is an indication of the company’s focus on compliance and
collaboration with regulators across the globe.
Binance Secures Qualified Advice on Regulatory Matters
Binance, the world’s leading digital asset exchange in terms of trading
volume, has established a Global Advisory Board. The body is comprised
of "distinguished experts in public policy, government, finance,
economics, and corporate governance," the global trading platform said in
a press release.
The advisory board will advise Binance on dealing with the most
complex regulatory, political, and social issues facing the crypto industry as
it expands and evolves, the exchange explained.
The Global Advisory Board is chaired by the former U.S. Senator
and Ambassador to China, Max Baucus. He has recently convened a meeting in
Paris, France. The members are from all corners of the globe, including Europe,
Africa, and South America.
Among them are Bruno Bézard, former head of the French Treasury
and Government Advisor; Hyung-rin Bang, advisor of the Korea Presidential
Committee and a former executive at Samsung and Hyundai; and Henrique de Campos
Meirelles, former president of the Central Bank and Economy Minister of Brazil.
The Founder and CEO, Changpeng Zhao, said in a statement that Binance has been at
the forefront of pioneering the worlds of crypto, blockchain, and Web3 in the
past five years. Its team has tackled several complex issues, he said, adding:
"We’ve maintained our focus throughout on delivering
compliance solutions that protect the interests of crypto users while keeping a
brisk pace of socially-beneficial innovation."
According to the CEO, the new advisory board represents the next
big step forward in Binance's journey to share the benefits of modern finance
and blockchain technology with the rest of the world. "Of all the
technologies with the potential to create positive disruption, the world of
crypto, blockchain, and Web3 is among the most exciting and the most
promising," Max Baucus added.
Binance's CEO also said that with the Global Advisory Board,
Binance is increasing its ability to manage complex regulatory issues by
tapping into the expertise of its distinguished members. He described the board
as a testament to a focus on compliance, transparency, and collaborative
relationships with regulators around the world.
The board's announcement comes after Zhao hinted 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
the company is opening a Romanian office and launching a Romanian-language
support service as part of its expansion plans into Eastern Europe.
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