Binance creates global advisory board to address regulatory challenges – Bitcoin News Exchanges

An international group of experts with a broad background in public and corporate governance will advise the Binance global cryptocurrency exchange on regulation. The move is an indication of Binance’s focus on compliance and collaboration with regulators, according to its direction.

Crypto Exchange Binance provides qualified regulatory advice

Binance, the world’s leading digital asset exchange in terms of trading volume, has established a Global Advisory Board. The body is made up of “distinguished experts in public policy, government, finance, economics and corporate governance,” the coin exchange platform said in a press release.

The board’s main task will be to advise Binance on how to address the more complex regulatory, political and social issues that the entire cryptocurrency industry is facing as it expands and evolves, the exchange explained.

The Global Advisory Board, chaired by former US Senator and Ambassador to China Max Baucus, recently met in Paris, France. Its members come from all corners of the globe, including Europe, Africa and South America.

Among them are Bruno B├ęzard, former head of the French Treasury and adviser to the government, Hyung-rin Bang, advisor 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 the economy of Brazil.

Binance

has been at the forefront of pioneering the world of cryptocurrencies, blockchain and Web3 for the past five years, company founder and CEO Changpeng Zhao (CZ) said in a statement. During that time, his team faced complex problems that no one even knew existed, noted and pointed out:

We have maintained our focus on providing compliance solutions that protect the interests of cryptocurrency users while maintaining a sustained pace of socially beneficial innovation.

The new advisory board represents the next big step in Binance’s journey to share the benefits of modern finance and blockchain with the world, the chief executive explained. “Of all the technologies with the potential to create a positive disruption, the world of cryptocurrency, blockchain and the Web3 is among the most exciting and promising,” added Max Baucus.

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CZ also pointed out that with the Global Advisory Board, Binance is increasing its ability to manage regulatory complexity by drawing on the experience of its members. He described his 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 cryptocurrency exchange wants to “go global by playing locally in more markets.” The CEO said that 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.

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Do you think the new advisory board will help Binance better navigate cryptocurrency regulation in the markets in which it operates? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who likes Hitchens’ quote: “Being a writer is who I am rather than what I do.” In addition to cryptocurrencies, blockchain and fintech, international politics and economics are two other sources of inspiration.

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