Hot News

Binance Hires Mark McGinness as Chief Regulatory Liaison Officer

Binance – the world’s largest cryptocurrency exchange – recently hired Mark McGinness as its Chief Regulatory Liason Officer. McGinness is a former Head of International Relations at the Dubai Financial Services Authority (DFSA).

How McGinness Helps Binance

According to a press release shared with CryptoPotato, the hire is part of Binance’s effort to better cooperate with regulators. They’ve made many recent hires for similar purposes, expanding its compliance team by over 500% since 2020.

With the DFSA, McGinness was responsible for expanding the group’s regulatory network and settling memoranda of understanding. He was Chief Decision Maker for the DFSA on matters referred by its Enforcement division.

McGinness was also Head of International Relations for the Australian Securities and Investments Commission (ASIC). There, he served as an advisor to ASIC’s chairman on international engagement and global standard-setting. The Officer has even held advisory positions for the International Monetary Fund and World Bank.

Binance CEO ‘CZ’ Changpeng Zhao said McGinness’s help will be instrumental to the exchange’s cooperation with policymakers.

Read more:  Bitcoin Price Analysis: BTC Retraces From $35K, Cool-off Before Another ATH or Correction Inbound?


“Mark is one of the most respected regulators and compliance experts in the industry. He brings with him over 30 years of invaluable experience working alongside key stakeholders in the financial services industry. Mark joining our leadership is not only a huge step forward for Binance, but the industry as a whole, as we work to grow the industry responsibly with the support of regulators and policymakers across the globe.”

Meanwhile. McGinness recognizes the need for greater understanding of blockchain technology among policymakers. He intends to “bridge the divide” between blockchain and government to establish regulatory frameworks and a better understanding of the space.

Binance Is Cooperating With Regulators

Binance is dedicating tremendous resources to ensuring its regulatory compliance. Last month, the exchange hired IRS-CI Expert as its VP of Global Intelligence and Investigations. The expert – Tigran Gambaryan – is responsible for audits and investigations relating to criminal activity on the company’s platform.

Read more:  Basketball Legend Charles Barkley: My People Do Not Believe in Crypto

Similarly, Binance recruited a former US Treasury CI in August to report and combat money laundering, and expand its AML and investigative programs.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

  • Binance Hires Mark McGinness as Chief Regulatory Liaison Officer1Binance Rolls Out Mandatory KYC Requirements Amid Regulatory Woes
  • Binance Hires Mark McGinness as Chief Regulatory Liaison Officer2Binance Hires Former US Treasury Criminal Investigator to Enhance Regulatory Compliance
  • Binance Hires Mark McGinness as Chief Regulatory Liaison Officer3Binance to Close Down Derivatives Services for South African Users

Tags: Binance Regulations

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button