Binance announces new hiring of former Senate member and China ambassador Max Baucus with more than 30 years experience. He will guide the exchange through future regulatory matters as he was a former Senate Committee on Finance as well as the Joint Committee on Taxation and Subcommittee on Transportation and Infrastructure so let’s find out more in our latest Binance news.
As per the announcement, Baucus’ expertise lies in creating policies but he also dabbled in blockchain technology and crypto regulations during his time as an Ambassador in China. During the first crypto boom in 2017, he criticized the US for not being able to adapt to growing fintech and blockchain technology, noting that China is running further away from the standard payment system that is still used in the States.
Binance announces new hiring and Baucus came at Binance at a time of increased institutional interest in the crypto markets that are coupled with enhanced scrutiny by lawmakers. Government officials were quite wary of the digital assets with cryptos like Ethereum and Bitcoin surging to new highs. The Securities and Exchange Commission even released a compliance notice on potential securities regulation for crypto. It’s important to note that Baucus runs a consulting company through which he advises both Chinese and American businesses as he served as an advisor to Alibaba as well. Baucus stated:
“[c]ryptocurrencies and blockchain technology represent some of the most potent forces for change in the global financial systems, potentially driving a revolution in how money is managed leading to fairer and more equitable financial world. Binance is one of the largest organizations involved in bringing these to the mainstream and its a privilege to assist in appropriately navigating the complex political and regulatory frameworks that hold the key to enabling wider adoption.”
According to a new breaking report that has been going on in the news, the leading crypto exchange Binance CFTC probe is making some waves on the market as the Commodity Futures Trading Commission is investigating if the exchange served US customers allowing them to trade crypto derivatives trading products which are a violation of US regulations. The regulator is among the chief regulatory enforcers in the United States and the Securities and Exchange Commission and launched an investigation into BitMEX as well as Tether in the past.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]