Binance Aims To Traverse Regulations With Help From Former US Senator
Binance stands as one of the largest cryptocurrency exchanges by volume out there. However, the exchange has yet to manage to break into the US markets officially, even for its size. At most, it could only license its brand out to a whole other company, going by the name of Binance.US.
Another Attempted Push Into US Soil
Now, it seems that Binance is renewing its efforts to be officially listed within the US, has managed to acquire one Max Baucus to join as an advisor on government relations and policy. Baucus stands as a former Democratic senator from Montana and will consult with the legislators and regulators of the US. These consultations, according to Binance, will be about policies that will help to grow the crypto ecosystem at large within the US.
Baucus himself was the one that helmed the Senate Finance Committee, doing so from 2007 all the way to 2014. In a statement, he claimed that the role enticed him due to the revolutionary power of blockchains and cryptocurrencies.
He publicly declared what a privilege it was to be hired by one of the biggest crypto exchanges out there to help them navigate US legislation’s complex regulatory and political frameworks. The ability to navigate the massive bureaucracy of the US will allow for wider adoption in the future, according to Baucus.
The Mandatory Kind Words
As it stands now, the US forbids its citizens from gaining access to Binance, legally anyway. This stands as a problem as Binance.US only offers around 54 cryptocurrencies, compared to the 340 that Binance offers in its global platform. Another key feature Binance offers over its San Francisco-based partner is crypto derivatives trading. Binance.US offers none of that.
Changpeng “CZ” Zhao stands as the CEO of Binance and gave a public statement about the matter at large. He explained that Baucus is a prime candidate and a dual threat when it comes to circumventing US policy. He held political roles both in the US and even in China, as he had served as the US ambassador to China after serving in the Senate, doing so during the Obama Administration’s second term. The CEO declared that this experience Baucus has will make him instrumental in the expansion of Binance into a truly global blockchain business.
Promises Of Future Developments
Zhao stated that there were a number of things that Binance as a whole wanted to pick Baucus’ brain on. Even so, he warned that this was, first and foremost, a strategic collaboration done at an extremely senior level. Thus, he expects that the strategic level partnership will gain fruit first before Binance can really tap into Baucus’ brain.