Binance has been seen as not only one of your most successful crypto exchange platforms but as one of the biggest in the crypto industry across the globe. Despite this fact, things are not coming easy for the crypto exchange in terms of servicing most of its clients in different countries. Even though the crypto exchange might want to venture into most countries, a trivial issue has always stopped them, regulations in the said country. One such nation is the United States of America, where almost half of the population are craving crypto. Their hunger seems like every place in the world due to the recent surge in the price of digital assets.
Baucus to help Binance navigate specific regulations
In its way of changing that and trying to venture into the United States of America, the crypto exchange has courted and appointed a previous Senator from Montana. The previous Senator in question, Max Baucus, would join the team as one of the core advisors on policy-related matters and government relations.
In their statement, Binance pointed out that Baucus’ job description includes mediation with the United States regulators and government over possible ways to establish regulations that would aid the growth of Binance and the crypto ecosystem in the country.
Baucus, who was at the top of the Senate Finance Committee’s affairs for seven years, pointed out that he was seduced to take up the role due to the revolutionary power that digital assets and blockchain technology possess. In the press release, he also mentioned that it was a great honor to help a firm such as Binance in navigating rules that are considered complex and widening the scope of crypto adoption across the country.
Americans complain over lack of options on Binance.US
Investor and traders stateside of the US has lamented in the last few months over their inability to access the Binance website. Instead, a partner of Binance in the country Binance.US has provided their crypto needs to them. While this has been seen as a good move, traders have lamented the lack of trading options on the San Francisco-based platform as they only boast of 54 coins to trade compared to Binances’ 340 coins.
Another feature that has disappointed them is the black of derivatives trading on the US platform, which Binance possesses. In a press conference, Changpeng Zhao mentioned that Baucus’ previous role as the mediator between the US and China makes him a perfect fit for the job. “With his experience inside and outside of the United States, Baucus would make him integral to the next phase of growth for our blockchain network,” CZ said.
Even though CZ mentioned that there are still a few things that they are willing to task Baucus with, he hopes that the strategic partnership bores fruits in the long run. Baucus is not the only person who has switched to the crypto sector as he has followed in his protege’s footstep, Jim Messina. This week, Messina was named as part of the board members of blockchain.com, a crypto wallet service provider.