Former US Senator Will Be Chairman Of Binance Global Advisory Board
Former US Ambassador to China Max Baucus will oversee the newly launched Binance advice section aimed at addressing regulatory complexities.
Binance has formed an advisory board led by a former US senator to assist the cryptocurrency exchange in navigating some of the most serious regulatory concerns confronting the industry.
Max Baucus, a former Democratic senator from Montana who served as the United States ambassador to China, will lead the new group, the business announced on Thursday. The advisory board met recently in Paris. Baucus said in a statement:
“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. 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.”
Baucus was elected to the Senate for the first time in 1978 and went on to become Montana’s longest-serving senator. During his fifth term, he chaired the Committee on Finance and left office in 2014. That same year, President Barack Obama selected him to be America’s ambassador to China, a position he maintained until January 2017.
Binance CEO Changpeng Zhao said in a statement:
“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 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.”
The establishment of the new regulatory-focused board comes as governments debate how to regulate the crypto sector. Last Monday, the White House released its first crypto framework, almost six months after President Joe Biden signed an executive order aimed at guaranteeing the responsible development of digital assets.
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