Binance has dedicated itself since its inception to advancing global financial freedom. Crypto assets have made this possible, and furthering their acceptance will significantly impact social and financial inclusion by working hard to achieve goals by creating great products, hiring the best team, and engaging with our community – but there’s still more we can do.
The Binance Global Advisory Board’s Purpose Clearly Defined
“We always put our users first, and that’s served as a very effective North Star for us over the past five years of unprecedented, exciting growth,” said Zhao. “With the GAB, we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available anywhere in the world. This collaboration between Binance and the leading experts of the GAB is a testament to our focus on compliance, transparency, and ensuring a collaborative relationship with the world’s regulators as they develop sensible regulations worldwide.”
Humility is one of the company’s guiding principles. The GAB will be extremely useful in this situation. The authority has established a global presence and has actively engaged with leaders in countries ranging from France to the United Arab Emirates.
It has been inspiring to see many of these countries take the lead and embrace a future in which crypto and blockchain are major economic forces. we understand that licenses and regulations will necessitate much discussion and compromise, but the trend is clear: many countries want to find a positive path forward.
With the rapid development of Web3, cryptos, and blockchain technology, Binance must draw on its knowledge, diverse experiences, and backgrounds to assist us in properly and successfully navigating such a dynamic industry.
Why Binance’s Global Advisory Board Is Needed Now
Many community members might wonder why we’re now forming the Global Advisory Board. The answer is straightforward and self-evident. Both I and Binance, as a company, believe that a tipping point for mass crypto adoption is rapidly approaching.
With this change clearly on the horizon, Binance’s role as an industry leader must be honed and managed with increasing expertise and experience. While they have increased our focus on regulatory compliance and transparency, they want to ensure that Binance continues to rely on its strategic counsel of experts.
However, they will work together to address the most complex regulatory, compliance, political, and social issues that we, as a company, and the entire crypto industry will face today and in the future. I’m honored that our company has the credibility to assemble such distinguished individuals to serve on our GAB.
At this critical juncture, no single person can address all issues that require careful deliberation. Binance will greatly benefit from the input of people with experience across governments and industries and important and strategic relationships, and subject matter expertise.
The needs are broad, and the standards are high, but the GAB’s composition does an excellent job meeting them. From a former US senator to distinguished economists and global business leaders, I find myself in the company of an esteemed and accomplished group of people who will continue to share Binance’s mission, values, and vision.
Commitment to the Creation of Responsible Regulation
Convening a GAB with this caliber of leaders demonstrates Binance’s commitment to developing trusting and cooperative relationships with regulators as they develop sensible regulations worldwide.
We accept the responsibility of leading the industry from the front and assisting regulators in their efforts to establish a global regulatory and compliance framework for the industry. The good regulations will encourage continued technological innovation.
They will protect crypto’s fundamental value propositions of freedom and empowerment while ensuring the proper safeguards are in place to protect consumers. The Binance GAB will enable us to continue demonstrating what our organization is capable of and to set a shining example for the blockchain industry.