Binance has created an advisory board to regulate cryptocurrencies

Cryptocurrency exchange Binance has created a global advisory board for the future development of Web3 technologies. Max Baucus, a former U.S. senator and ambassador to China, has been appointed the head of the new organization in the ecosystem of the largest cryptocurrency exchange. Baucus will advise Binance on regulatory, political, and social issues. Binance emphasized that the board meeting held in Paris is «an important step in the company’s efforts to support the sustainable development of blockchain technology.»

«Over thepast five years, Binance has been at the forefront of developing the exciting new world of crypto, blockchain, and Web 3.0,» said Changpeng Zhao, founder and CEO of the crypto exchange, «At the time, we were solving complex problems that no one even knew existed.»

The board also includes:

• Hyun-Rin Beng, Advisor to the Korean Presidential Committee;
• Bruno Besard, Managing Partner of Cathay Capital and former economic advisor to the French Prime Minister;
• Henrique de Campos Meirelles, former Minister of Economy and former President of the Central Bank of Brazil.

Recently, Binance CEO Changpeng Zhao spoke about the global update of the Ethereum ecosystem. According to the expert, the transition of the main altcoin to the consensus Proof-of-Stake (PoS) algorithm is an important step towards progress, though not as fundamental as it is claimed. Zhao supports the EU legislation on crypto asset markets (MiCA). The Binance CEO believes that it is likely to be adopted globally as a standard for cryptocurrency regulatory policy.