Binance Appoints Former US Ambassador Max Baucus as Policy and Government Advisor

Binance, the world’s largest cryptocurrency exchange has appointed Max Baucus, the former US Ambassador to China as its policy head and government relations advisor. The move by the crypto exchange is being seen as a way to better its working relationship in the US market after opening an independent US-only exchange in 2019.

Binance, the world’s largest cryptocurrency exchange, has named former U.S. Senator Max Baucus as a policy and government-relations adviser https://t.co/2SxWx2JFZy

— Bloomberg Technology (@technology) March 11, 2021

Binance is one of the largest market players in both the spot market as well as the futures market and has grown into a multi-billion dollar ecosystem in a very short period. However, despite its market dominance, the exchange does not cater to the US customers directly due to regulatory clampdowns, and the current government adviser appointee in the form of a former senator. The exchange might be planning to expand its business in the US.

Changpeng Zhao, Binance Chief Executive Officer said,

Binance is committed to working closely with governments around the world, under the guidance of some of the most seasoned experts. We believe Senator Baucus will play an instrumental role for Binance, the crypto industry, and the different government bodies around the world going forward.