Exchanges & Wallets September 22

A former US Senator will chair Binance's global advisory board

Binance has created this new board to deal with the different regulatory, political and social issues, and it will do so with Max Baucus at the head of the council.

News Mundocrypto

Political figures are gaining more and more weight within the crypto industry. Times of regulations are coming and companies are looking for people with experience within political institutions. This is done in order to maximize their competitive advantage over commercial rivals. But it's not just one or two, many organizations are implementing this strategy, and among them one of the largest of all, Binance

We are talking about the crypto giant, which today has chosen a new president for its new global advisory board. We are talking about the former senator of the United States, and ambassador to China, Max Baucus. This decision was made to effectively advise the largest exchange in the world on regulatory issues that may affect it, as well as political and social issues. 

In a statement released by the cryptocurrency exchange, he reported that this board recently had a meeting in Paris. This represents "a big step in the company's efforts to support the sustainable development of blockchain technology.

“For the past five years, Binance has been at the forefront of pioneering the exciting new world of crypto, blockchain, and Web3” 

For the founder of the exchange, this is just another step in his strategy to continue leading the crypto industry. The CEO defended that his company has encountered new unknowns, and that "we have tackled complex problems that nobody knew existed." One of both Changpeng Zhao and Binance has been to expand to as many countries as possible. To achieve this they have always been flexible with the regulations of each country. 

In addition to Max Baucus on the global advisory board, there are other people with political connections. It is made up of Hyung-Rin Bang, advisor to the Presidential Committee of South Korea; Henrique de Campos Meirelles, former Minister of Economy and former President of the Central Bank of Brazil; and Bruno Bezard, managing partner of the investment firm Cathay Capital and former economic adviser to the French prime minister.