On Thursday, crypto exchange Binance announced the creation of its new Global Advisory Board. The board’s purpose, as such, is to advise Binance on some of the “most complex regulatory, political, and social issues” that the crypto industry faces as it grows and evolves in the ecosystem.
Per Binance founder and CEO—Changpeng Zhao,
“The GAB represents the next big step forward in our journey to share the benefits of modern finance and the blockchain with the entire world.”
“With the GAB, we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world. This collaboration between Binance and the leading experts of the GAB is a testament to our focus on compliance, transparency, and ensuring a collaborative relationship with the world’s regulators as they develop sensible regulations worldwide.”
Who are the members of Binance’s new board?
Notably, Max Baucus—former US Senator and Ambassador to China—will be chairing the said advisory unit. In the official statement, he said that the world of crypto, blockchain, and Web3 was among the most exciting and the most promising of all the technologies that possessed the potential to create positive disruption.
The former Senator was a member of the Democratic Party, and held his position for over 35 years, making him the longest-serving U.S. senator in Montana history. Post that, he was elected by President Barack Obama to become America’s ambassador to China.
Other members of the board include a host of senior officials from Nigeria, Korea, France, South Africa, Brazil, Mexico, and Germany.
Binance, on its part, has been in the news of late. Just a day back, for instance, it secured a minimal viable product license in Dubai from the Virtual Asset Regulatory Authority. Furthermore, earlier during the day, it was revealed that the exchange partnered with Bahrain’s EazyPay to offer crypto payments to over 5000 merchant stores.