Binance Elects Former Obama Advisor to New Global Advisory Board
Categories: Crypto News
Binance Elects Former Obama Advisor to New Global Advisory Board
Binance today announced the formation of its new Global Advisory Board, a strategic council of experts that will advise the world's leading cryptocurrency exchange on the regulatory, political and social issues faced by the industry.
Chaired by former U.S. Senator and Ambassador to China, Max Baucus, the Board comprises experts in public policy, government, finance, economics, and corporate governance, including former campaign manager and senior advisor to president Obama David Plouffe, Britain’s former Minister of State for Culture and the Digital Economy Lord Vaizey, and former head of the French Treasury Bruno Bezard.Other experts joining the Board represent Nigeria, South Korea, South Africa, Brazil, Mexico, and Germany.
Commenting on the reasons behind the creation of the Board, Binance CEO Changpeng 'CZ' Zhao stressed that “with the speed and pace that Web3, cryptocurrencies, and blockchain technology are developing, it’s vital Binance draws on its knowledge, diverse experiences, and backgrounds to help us properly and successfully navigate such a dynamic industry.”
Zhao added that it is impossible for a single person “to cover all the areas that need thoughtful, considered decision-making at this pivotal time,” and that “Binance will benefit greatly from input from people with experience across governments and industries, important and strategic relationships, and subject matter expertise.”
Binance and regulators
Earlier this year, Binance, which has a history of regulatory struggles in various jurisdictions, was registered as an official digital asset provider in Bahrain, France and Italy, and is banking on pro-crypto regulators to expand its operations globally. The crypto exchange, however, was fined $3.3 million by the Dutch Central Bank in July for offering services in the Netherlands without the appropriate license. "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," Global Advisory Board chair Max Baucus said in a statement