Binance Appoints Its First Chief Regulatory Liaison Officer

Crypto exchange Binance appointed a chief regulatory liaison officer for the first time as it ramps up efforts to garner a more favorable view from financial regulators.

• Mark McGinness joins the exchange from the Dubai Financial Services Authority, where he spent 16 years as head of international relations.
• During his tenure in Dubai, McGinness helped establish a global network of over 85 regulators for the financial center, Binance said Thursday.
• He has also held advisory roles at the International Monetary Fund and the World Bank.
• The hire follows that of Richard Teng, former CEO of Abu Dhabi’s financial watchdog, to head Binance’s operations in Singapore in August.
• Binance has been looking to establish closer ties with regulators in an attempt to pivot “from a tech startup to a financial institution,” in CEO Changpeng “CZ” Zhao’s words.
• The world’s largest crypto exchange faced a wave of regulatory backlash from financial watchdogs around the world earlier this year, forcing it to take a more proactive stance regarding compliance.

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