Max Baucus becomes Chair of Binance’s new Global Advisory Board

Image source: Market Realist

Crypto exchange Binance has brought changes to the company, and now former US senator Max Baucus is joining its Global Advisory Board.

The Board

The cryptocurrency exchange platform has announced the creation of a new global advisory board.

The Board is a strategic council of experts who share their knowledge of regulatory, political, and social issues in the cryptocurrency industry.

Max Braucus, a former US senator and ambassador to China, will assume the role of prime minister.

The rest of the board is made up of experts from a variety of fields, including economics, finance, corporate governance, government and public policy.

David Plouffe, former campaign manager and senior adviser to former President Obama, also sits on the board of directors.

For the digital economy, they will be joined by former UK culture secretary Lord Vaizy and former French treasury chief Bruno Bezard.

Several experts sit on the board, including representatives from Brazil, Germany, Mexico, Nigeria, South Africa, and South Korea.

The formation of the Board

Binance CEO Changpeng “CZ” Zhao said the board was formed due to the rapid development of blockchain technology, cryptocurrencies and Web3.

“It’s vital Binance draws on its knowledge, diverse experience, and backgrounds to help us properly and successfully navigate such a dynamic industry,” he elaborated.

“Both I and Binance as an entity see an inflection point for mass crypto adoption rapidly approaching.”

“With this change clearly on the horizon, Binance’s role as an industry leader needs to be honed and managed with increasing expertise and experience,” Zhao added.

According to the CEO of Binance, it is impossible for a person to cover all the areas that require thoughtful and enlightened decisions at a crucial moment.

“Binance will benefit greatly from input from people with experience across governments and industries, important and strategic relationships, and subject matter expertise.”

Binance and regulatory problems

Binance is not unrelated to regulatory battles in various districts.

This year, however, it was recorded as an official digital supplier in Bahrain, France, and Italy.

It is also based on the Pro-Crypto supervision authorities to extend its activities worldwide.

In July, Binance was fined $3.3 million by De Nederlandsche Bank for launching its services in the Netherlands without proper authorization.

“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,” said Baucus in a statement.

“That’s why it is a great pleasure to participate in setting up the Binance Global Advisory Board and bringing the group’s unrivaled collective expertise to bear in solving complex problems with a socially positive outcome.”

At this week’s Mainnet conference in New York, Zhao suggested that governments create a new category exclusively for blockchain-based assets.

He defined the resource simply as a new data transmission technology and a distinct new class of resource.

Reference:

Binance taps former Obama advisor for new Global Advisory Board

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