Binance is joining the executive committee of the Chamber of Digital Commerce, a U.S. lobby group for the blockchain industry, as the world’s biggest crypto exchange steps up its engagement with regulators.
Binance will contribute to research and potentially influence the shape of crypto legislation through discussions with policymakers and regulators, according to a statement. The crypto giant joins traditional finance firms like Visa and Deloitte as well as blockchain firms such as Circle and OKCoin. The exchange’s U.S. unit, Binance US, has been on the executive committee since 2020.
The move marks another milestone as Binance has bolstered its regulatory capacity in the past year, after an earlier track record of getting into trouble with financial regulators.
It may be recalled that in April 2021, Binance.US decided to quit Blockchain Association after less than two years due to a difference in “values, goals and standards” a report by CoinDesk suggested citing unidentified company source.
(Reporting by Shikha Singh, Editing by Laxmikant Khanvilkar)
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