Former United States Senator and former US Ambassador to China, Max Baucus, has joined the team of one of the largest cryptocurrency exchanges Binance as an advisor on matters related to the regulatory framework.
The task of the former American official is to establish a connection between Binance and the current US Government and the financial regulator. Representatives of the crypto exchange hope that, with the support of the ex-senator, they will be able not only to contribute to the development of their business, but also the ecosystem of digital currencies.
Binance.US, being a regulated entity, can only offer 54 cryptocurrencies to users instead of 340 available to customers on the main trading platform. Consequently, expanding opportunities in the United States is on their list of priorities.
Binance chief executive Changpeng Zhao said their exchange aims to work closely with agencies around the world under the leadership of top experts, one of which is former Senator Baucus.
Binance is not the only cryptocurrency company interested in experienced executives from the American top. Blockchain.com recently announced that Jim Messina, Barak Obama's deputy chief of staff, will serve on the board of a crypto wallet provider.