Binance cryptocurrency exchange today announced that it has joined Max Bockus, a former U.S. Senator, Chairman of the Finance Committee and U.S. Ambassador to China, as its Regulatory Advisor.
Binance is the largest cryptocurrency exchange in the world, but only serves US customers through its regulated division Binance.US with a limited supply. The American platform supports only 54 cryptocurrencies against 340 on the main one and does not work with derivatives. The exchange expects Bocus’s support to help grow not only its business, but the broader cryptocurrency ecosystem as well.
Baucus will advise Binance on political issues and act as a liaison between the exchange and regulators, the company said. In the Senate, he was predominantly involved in healthcare reform and showed interest in blockchain while in China. In 2017, Baucus noted that China has moved beyond “the standard payment system still used in the United States.” He also reproached the authorities for not rushing to pass legislative initiatives that would contribute to the development of American financial technologies.
Baucus currently advises a number of US and Chinese companies based in Montana. In the past, he worked as an advisor for the Alibaba Group.
“Cryptocurrencies and blockchain technology represent some of the most effective forces for transforming the global financial system,” said Baucus. – Binance is one of the largest organizations in the mass distribution of these technologies. I am honored to appropriately guide her on complex policy and regulatory issues that are key to wider dissemination. ”
Binance Coin (BNB), Binance’s own token, is up 8% on today’s announcement and has surpassed $ 300 for the first time since February 21.
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