Leading crypto exchange Binance has launched a Global Advisory Board to engage regulators around the world in promoting responsible regulation of the crypto industry.
The board is made up of experts ranging from a former US senator to leading economists and global business leaders. The team will use their expertise, experience and networks to advise Binance on complex regulatory, political and social issues facing crypto adoption.
Binance CEO Changpeng “CZ” Zhao said the board’s establishment reflects Binance’s commitment to building trust with regulators as they work towards responsible oversight of the industry.
“With the [board]we are strengthening our ability to manage regulatory complexity by leveraging the highest level of expertise available in the world.”
According to CZ, the time is right for the board to take off as the mass adoption of crypto is fast approaching, but it must overcome the hurdle of complex regulation.
The board is chaired by former US Senator and Ambassador to China, Max Baucus. Other leading experts on the team include Ibukun Awosika, HyungRin Bang, Bruno Bézard, Leslie Maasdorp, Henrique de Campos Meirelles, Adalberto Palma, David Plouffe, Christin Schäfer, Lord Vaizey, David Wright and Changpeng Zhao.
CEO Max Baucus acknowledged that the world of crypto, blockchain and Web3 has the greatest potential to create positive disruption globally.
The chairman added:
“It is a great pleasure to participate in the creation of the Binance Global Advisory Board and to leverage the group’s unparalleled collective expertise in solving complex problems with a socially positive outcome.”
Binance and Responsible Regulation
The leading crypto exchange has been actively involved with regulators around the world to promote crypto-friendly policies.
According to an August 24 report, Binance was invited by authorities in the Philippines to a Senate hearing to discuss issues related to responsible regulation of cryptocurrencies. Philippine regulators want to reap the benefits of crypto while protecting the interests of users.
During the recent Binance Blockchain Week in Paris, CZ said that the regulatory framework proposed by the European Union Market in Crypto Assets (MiCA) could become a global standard as it aims to boost crypto adoption while protecting consumers.
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