Binance Announces Joining Cryptocurrency Lobbying Group in the USA!

Binance is increasing its engagement with regulators by joining the executive committee of the Chamber of Digital Commerce, a US lobbying group for the blockchain industry.

According to the statement, Binance will contribute to research and potentially influence the shape of crypto legislation through discussions with policymakers and regulators.

Binance Joins Digital Chamber of Commerce’s Executive Committee

The crypto giant joins traditional finance firms like Visa and Deloitte, as well as blockchain firms like Circle and OKCoin. The US unit of the exchange, Binance US, has been on the group’s executive committee since 2020.

The move marks another milestone in which Binance strengthened its regulatory capacity over the past year after having previously had problems with financial regulators.

Joanne Kubba, Binance’s vice president of public affairs, said in a statement:

“As an organization at the center of the industry’s rapid growth and complex regulatory environment, working hand-in-hand with industry representatives such as policy makers, regulators, and lobbying group cryptocurrency and essential to our shared mission to promote the sustainable development of reasonable regulations for the blockchain.”

According to Blain Rethmeier, vice president of public affairs for the Digital Chamber of Commerce, the group’s newest member has “proved himself as a leader in this emerging ecosystem.”

Binance also plays a growing role in shaping the crypto industry from within. The company has announced that it wants to invest in crypto firms with a $1 billion “industry bailout” fund to mitigate the damage from the collapse of rival exchange FTX.

*Not investment advice.