In a move that sees the world leading crypto trading platform Binance, continuing to forge a great relationship with Russia, Russian Banks Association have decided to make a Binance executive, the lead at a newly-innovated crypto expert center.
Binance and Russian Banks Association To Launch Crypto Expert Center
According to a Thursday announcement, Binance teamed up with the Association of Banks of Russia to form a new group. However, the aim of the group is to create a platform where local authorities, lawmakers, as well as experts in the crypto space can easily dialogue over topical issues as they concern the country.
Although, since the Association of Banks of Russia was founded in 1990, only about 300 Russian banks and financial institutions have joined in as members. However, that is not to say all banks in Russia are members. The 300 banks only makes up for roughly 90% of the country’s entire banking infrastructure.
Now however, the association’s council has given the nod to allow Binance as its member. With this move, the group will be launching an expert center that will be fully focused on digital financial assets and digital currencies.
Meanwhile, as part of its duties, the expert center mission is expected to prepare professional reviews on how digital assets are being circulated in Russia. The center will also be providing expert data reports and opinions to the association and its representatives.
Interestingly, a lead has already been chosen to champion the efforts of the crypto expert center.
Following approval by the association’s presidium council, Binance’s director in Russia and Commonwealth of Independent States (CIS), Olga Goncharova has now become the lead of the expert center. Recall that Goncharova just recently joined Binance itself in January to push compliance efforts in Russia and CIS. And prior to January, she was working as a department director at the Bank of Russia.
Meanwhile, the President of the Russian Banks Association, Georgy Luntovsky has also given his remarks about the appointment of Goncharova. According to him, Guncharova will be responsible for proper monitoring of the circulation of digital currencies in Russia. He said:
“In our opinion, she is a good candidate to lead the platform where the expert community could discuss approaches to the regulation and development of digital financial assets”.
Also, the director at Binance’s Eastern Europe division, Gleb Kostarev has expressed his confidence in the appointment as well. Kostarev believes that Binance’s expertise in the crypto market will play a huge role in these moves. He said:
“We are on the verge of a global transformation in the field of cryptocurrency regulation. Binance, as the largest cryptocurrency ecosystem in the world, has a solid track record of working with regulators”.
Binance may already have a reputation for closely working with Russian organizations backed by the state. However, this is another huge step in ensuring a long cooperative relationship with Russia.