Binance has tapped Max Baucus, a former U.S. senator and ambassador to China, to chair its new global advisory board, to advise the world’s largest cryptocurrency exchange on regulatory, political and social issues.

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Fast facts

  • Binance said on Thursday in a statement that the board, which recently convened in Paris, represents a “major 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 Web 3.0,” Changpeng Zhao, Binance founder and chief executive officer, said. “In that time, we’ve tackled complex issues no one even knew existed.”
  • The board’s members include Hyung-Rin Bang, advisor of the Korea Presidential Committee; Bruno Bezard, managing partner of investment firm Cathay Capital and a former economic advisor to the French prime minister; Henrique de Campos Meirelles, a former minister of the economy and a former president of the central bank of Brazil.
  • In August, Zhao said the exchange has spent over US$1 billion on compliance efforts.
  • Binance has received regulatory approval to offer crypto-related services in France, Italy, Spain, Dubai, Abu Dhabi and Bahrain.

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