The largest crypto exchange in the world, Binance, has long since struggled with adequate regulations, to the point that it is still unavailable in the United States where Bitcoin (BTC) is in demand the most. Perhaps in the effort to rectify just that, the exchange announced today that it had signed former Democratic senator Max Baucus as a new advisor tasked with government relations and policy. Baucus is set to work with the US legislators and regulators to help Binance, perchance the whole crypto space, fix its long-standing regulatory issues.
To list a small sample of Baucus’ accomplishments throughout his lifetime, he was once President Barack Obama’s ambassador to China from 2014-2017. And even before that, he served under the House of Representatives and the US Senate for about 40 years.
Changpeng Zhao, the CEO of Binance, commented on this by stating that Binance would benefit significantly from Baucus’ extensive experience at the top governmental tier and his deep understanding regarding global regulations. Zhao further said that Baucus would serve as a great addition to the exchange’s policy team and perhaps may even be the key that elevates it to another level.
The former senator shares the same optimism and delight to his coming foray as a Binance advisor. According to Baucus, Binance belongs to the shortlist of organizations today that brought crypto to the mainstream. It is a privilege for him to be the asset that helps it navigate the complex regulatory and political frameworks towards the ultimate goal of even wider adoption.