Popular crypto exchange, Binance has unveiled its global advisory board to propel the future of Web3. The exchange announced the development in its Thursday blog post. According to Binance, the inflection point for mass crypto adoption necessitated the initiation of the board.
Binance added that it remains a leader in the industry. This position, according to the exchange, needs to be honed and managed with increasing expertise and experience. The exchange reflected at the speed and pace that Web3, cryptocurrencies, and blockchain technology are developing. This, as reported, propelled its knowledge, diverse experiences, to help navigate such a dynamic industry.
Also, Binance intends to “double down in its focus on regulatory compliance and transparency.” Additionally, it intends to ensure that the exchange continue to draw on its strategic counsel of experts.
GAB to add more value to the growing crypto sphere – Binance CEO
The CEO of Binance, Changpeng Zhao hinted that the exchange, through the board aims to “consult the most complex regulatory, compliance, political, and social issues” facing the entire crypto industry today and in the future. He expressed his excitement over the development, saying Binance convened distinguished people “who sit on our GAB.” Zhao believes the Binance board posseses what it takes to add more value to the industry.
Furthermore, the CEO maintained that Binance will benefit “greatly from input from people with experience across governments and industries, important and strategic relationships, and subject matter expertise.” He added that the expectations remains high from the board, but remains optimistic that it will deliver as mandated.
More so, Zhao said the institution of the board by Binance reaffirms its commitment to “building trusting and cooperative relationships with regulators as they develop sensible regulations worldwide.” According to him, Binance embraces “the responsibility to lead the industry from the front and support regulators as they seek to establish a global regulatory and compliance framework for the industry.” The CEO believes right regulations helps to foster continued technological innovation in the sphere.
Also, he remarked that the regulations tend to help “preserve crypto’s fundamental value propositions of freedom and empowerment.” Similarly, he noted that the regulations tends to ensure that the right guardrails are in place that provide consumer protection. Zhao said the Binance GAB “will demonstrate to the world exactly what our organization is capable of and set a shining example for the blockchain industry.” He, however, affirms the aim of Binance to continuously build products, hire the best team, and closely engaging its community.