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Binance is establishing a Global Advisory Board to work on regulatory and policy issues

by SuperiorInvest

As the crypto community grows, the issues in the crypto community become more complex. Regulatory, political, and social issues often hinder cryptocurrency adoption, slowing progress in the space.

In response to these problems, the Binance crypto exchange created a working group called the Global Advisory Board (GAB). The board is made up of individuals who are expected to address any issues that may arise as the exchange continues its initiatives to support cryptocurrency, blockchain and Web3 adoption.

The group will be led by former United States Senator Max Baucus. Members include figures as diverse as Ibukun Awosika, HyungRin Bang, Bruno Bezard, Leslie Maasdorp, Henrique de Campos Meirelles, Adalberto Palma, David Plouffe, Christin Schäfer, Lord Vaizey and David Wright.

In a press release, Binance CEO Changpeng Zhao he said that since its inception the stock exchange has faced problems that “nobody even knew existed.” Zhao believes that the creation of GAB is a step towards furthering the company’s mission. He said that:

“We always put our users first, and that has served us as a very effective Polarka over the past five years of unprecedented and exciting growth.”

Meanwhile, Baucus expressed his excitement about the potential of crypto, blockchain and Web3. According to Baucus, they aim to solve complex problems and bring socially positive results.

Related: Regulated fintech in Bahrain enables crypto payments with Binance

At the recent Australian crypto convention, Eowyn Chen, CEO of Trust Wallet identified obstacles standing in the way wider adoption of cryptocurrencies. According to Chen, it comes down to ease of use, security, privacy and identity.

Meanwhile, Binance’s native blockchain, BNB Chain recently launched a community initiative which focuses on protecting users from fraud and exploits. Dubbed AvengerDAO, focused on security decentralized autonomous organization (DAO) was created to add another layer of security to the blockchain.

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