Binance Creates Global Advisory Board to Tackle Regulatory Challenges – Exchanges Bitcoin News

Binance will receive guidance on regulation from an international panel of experts, including one who has extensive knowledge in both public and corporate governance. The move is an indication of Binance’s focus on compliance and collaboration with regulators, according to its management.

Crypto Exchange Binance Provides Quality Advice On Regulatory Issues

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 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 that the whole crypto industry is facing as it expands and evolves, the exchange explained.

Former U.S. Ambassador Max Baucus chairs the Global Advisory Board. The Global Advisory Board, headed by former U.S. Senator Max Baucus and China Ambassador Max Baucus has met recently in Paris. They are made up of people from around 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 former executive at Samsung and Hyundai, and Henrique de Campos Meirelles, former president of the central bank and economy minister of Brazil.

Binance has been at the forefront of pioneering the world of crypto, blockchain, and Web3 in the past five years, the company’s founder and CEO Changpeng Zhao (CZ) said in a statement. Its team has solved complex problems no one knew existed over that period, he said, and highlighted:

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.

The new advisory board represents the next big step forward in Binance’s journey to share the benefits of modern finance and the blockchain with the world, the chief executive elaborated. “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.

CZ also stressed that Binance’s ability to handle regulatory complexity is improving with the Global Advisory Board. Binance can tap into the knowledge of its members through the Global Advisory Board. He described its 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 earlier this week Zhao indicated that the largest crypto exchange wants “to go global by playing locally in multiple markets.” The CEO said that in Bucharest, where he revealed the company is opening a Romanian office and launching Romanian-language support service as part of plans for further expansion into Eastern Europe.

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Is the new advisory body going to help Binance navigate cryptocurrency regulation on the market where it has operations? Please comment below with your thoughts.

Lubomir Tatsev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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