Binance to create advisory board on crypto regulation

It will consist of 10 people, and will be headed by former US Senator Max Baucus

22.09.2022 - 13:45

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2 min

What’s new? The cryptocurrency exchange Binance invites former government officials and financial experts to create a new Global Advisory Board (GAB). It will consist of 10 people and will be headed by a former US Senator Max Baucus, who joined Binance in 2021. The board includes former head of the French Treasury and former economic adviser to French Prime Minister Bruno Bezard, former Brazilian Minister of Economy Henrique de Campos Meirelles, and former European Union Commissioner David Wright.

Information on the exchange's blog

What is the essence of the initiative? Changpeng Zhao, head of the exchange, said the collaboration underscores the company's commitment to compliance, transparency, and ensuring trusted relationships with global regulators. He added:

“We embrace the responsibility to lead the industry from the front and support regulators as they seek to establish a global regulatory and compliance framework for the industry. The right regulations will foster continued technological innovation. They will preserve crypto’s fundamental value propositions of freedom and empowerment while ensuring the right guardrails are in place that provide consumer protection.”

In August 2021, the exchange hired former US federal law enforcement investigator Greg Monahan as its Global Money Laundering Reporting Officer. And in December, Binance's US subsidiary hired Intel's top compliance executive, Sidney Majalya, as the cryptocurrency exchange's chief risk officer.

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