Binance forms global advisory council of high-ranking former officials

The cryptocurrency exchange Binance announced the creation of a global advisory council to foster dialogue on the industry’s regulatory regime. It includes high-ranking former officials from various countries.

We can now officially share the names of the experts who form the new #Binance Global Advisory Board.

This collaboration highlights our commitment to compliance, transparency and ensuring a collaborative, trusting relationship with the world’s regulators.https://t.co/u7m0kWn00a

— CZ 🔶 Binance (@cz_binance) September 22, 2022

“This collaboration underscores our commitment to regulatory compliance, transparency, and to fostering collaborative, trusting relationships with global regulators,” — explained Binance founder and CEO Changpeng Zhao.

The council will be led by Max Baucus, former chairman of the U.S. Senate Finance Committee and U.S. ambassador to China.

Also, members include:

• David Wright, former Secretary General of the International Organization of Securities Commissions;
• Bruno Le Maire, former French finance minister and former adviser on economic affairs to the prime minister of the country;
• David Plouffe, campaign manager for former U.S. President Barack Obama;
• Ed Vaizey, member of the British House of Lords, former Minister for Culture and Digital Economy;
• Henrique de Campos Meirelles, former Brazilian economy minister and former head of the country’s Central Bank;
• Christine Shefer, former Deutsche Bank top executive and member of Germany’s Data Ethics Commission;
• Adalberto Palma Gómez, former head of Mexico’s Banking and Securities Commission;
• Ibukun Awosika, former chair of First Bank of Nigeria;
• Hengrin Bang, former executive at Samsung and Hyundai;
• Leslie Maasdorp, vice-president and chief financial officer of the New Development Bank, who previously worked in the South African government, Bank of America Merrill Lynch, Goldman Sachs Group Inc. and Barclays.

The council will advise the company on regulatory, political and social issues.

“Many will wonder why we are forming a global advisory council now. The answer is simple and obvious. We see a turning point for the mass adoption of cryptocurrencies approaching rapidly. … Binance’s role as an industry leader must be sharpened with increasing competence and experience,” Zhao explained.

In a press release, the exchange said it intends to support the development of rules that preserve the fundamental value propositions of crypto—freedom and empowerment—without compromising consumer protection.

Earlier, in September Zhao described the EU-backed MiCA crypto-regulation bill as “fantastic”.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analytics.