Binance announced through its official blog the creation of a Global Advisory Council that will be made up of experts in public policy, government, finance, economics, and corporate governance.
With the aim of establishing a guide and charting the best way forward through the regulatory, political and social challenges facing the crypto industry, Binance announced the creation of the new Global Advisory Board (GAB).
According to Changpeng Zhao, founder and CEO of Binance, although from day one Binance has been dedicated to promoting the freedom of money for the world, there are still more actions that can be taken to continue supporting this purpose.
“Together with the other 11 members of the Council, we are taking on a task that no one can do alone. The underlying technology of blockchain is tremendously promising and we are here to unlock it together”
The functions of the Binance Global Advisory Council
Binance assures in its official blog that with the speed that Web3 , cryptocurrencies and blockchain technology are developing , it is vital that Binance draws on its knowledge, diverse experiences and backgrounds to help navigate properly and successfully in such a dynamic industry.
“Many in the community may be wondering why we are forming the Global Advisory Council at this time. The answer is simple and obvious. Both I and Binance as an entity see a tipping point for the mass adoption of crypto fast approaching.
The company indicated that the Global Advisory Councils will be made up of great figures, from a former US senator to distinguished economists and global business leaders. In short, it is a group of highly trained people who share the mission, values and vision of cryptocurrencies in the future.
The idea of the Council is to develop solutions to protect the interests of crypto users , and accelerate innovations to benefit society.
Faced with this, Max Bacus, President of the Council, expressed his admiration for cryptocurrencies, blockchain and Web3 , highlighting the potential of these technologies.
“It is my great pleasure to participate in the creation of the Binance Global Advisory Board and to bring together this group of unparalleled experience to support the resolution of complex problems with socially positive results.”
Changpeng Zhao concluded by assuring that the Global Advisory Council bears the responsibility of leading the industry from the front and supporting regulators as they seek to establish a global regulatory and compliance framework for the industry.
“The right regulations will encourage continued technological innovation. They will preserve the fundamental value propositions of freedom and empowerment of cryptocurrencies, while ensuring that adequate safeguards are in place that provide consumer protection.”
Binance Boosts Crypto Payments in Bahrain
Following the announcement of the newly formed Global Advisory Board, Binance has also increased its ability to accept crypto payments within Bahrain following its recent partnership announcement with EazyPay. EazyPay, a Bahraini- regulated online payment gateway and point-of-sale ( POS ) company , will integrate its software into Binance Pay. Enabling more than 5,000 POS terminals to accept crypto through Binance Pay.
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