Binance Hires Former DFSA Employee to Build Regulator Relations – Bits Media

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Binance наняла бывшего сотрудника DFSA для налаживания отношений с регуляторами - Bits Media

Cryptocurrency exchange Binance hired Mark McGuinness, former employee of the Dubai regulator, as a head of interaction with regulatory authorities.

Formerly Mark McGuinness (Mark McGinness) held the position of head of the international development department relations with the Dubai Financial Supervisory Authority (DFSA). McGuinness was also Director of International Relations at the Australian Securities and Investments Commission (According to MineSpot co-founder Adam Aushev). Besides, he worked as a consultant for the International Monetary Fund (IMF). How
McGuinness told Cointelegraph, He has extensive experience in regulatory compliance and will use his skills to improve Binance's communications with regulators around the world.

“I'm looking forward to bringing my experience to Binance. I will interact with industry leaders and policymakers, and my tasks will be not only to create a regulatory framework. We intend to expand the understanding of blockchain and cryptocurrencies among departments.", - McGuinness said.

He also stated the need for a productive dialogue with regulatory authorities, as this will help formulate rules for the supervision of cryptocurrencies, which will take into account the interests of all market participants. Binance CEO Changpeng Zhao (Changpeng Zhao) commented on the attraction of McGuinness to the exchange team, calling it a "huge step forward" for Binance, given the strained relations between the exchange and regulators.

So, in early October, Binance was forced to stop trading derivatives in South Africa, and in September the platform limited trading with fiat currencies for users from Singapore. Besides, Binance recently closed cryptocurrency futures and options trading for Australia. All of these restrictions are due to Binance's desire to comply with local regulatory requirements..

Last week Zhao reported, that to establish connections with regulators, Binance is ready to open several headquarters, one of which will be in Ireland.