Binance Joins Russian Banking Union, Will Head New Crypto Department
The crypto exchange giant Binance has joined the Association of Russian Banks (ARB), where its Russia and CIS (Commonwealth of Independent States) lead will head a new crypto department.
According to Prime, the crypto exchange has circulated a press release on the matter to major Russian media outlets, where it explained that its Russia and CIS head Olga Goncharova would head the ARB’s newly created Expert Center for Digital Financial Assets and Digital Currencies (literal translation).
The exchange stated that its membership would help “provide a dialogue with federal authorities, legislators, experts in the field of digital financial assets and digital currencies.”
The new “Expert Center” will help compile “professional opinions on the circulation of digital financial assets and digital currencies,” and provide members “with expert and analytical materials” on the topic of crypto, as well as providing “international experience.”
It will also “engage in dialogue” with “federal authorities and legislators.”
Last month, Reuters reported, the exchange’s local leadership suggested that it saw “prospects for new regulations that would boost its business.”
Binance’s Eastern European Director Gleb Kostarev was quoted as stating that the trading platform “hopes for a progressive regulatory approach from Russia that could influence the approach taken by its neighbors.”
He said:
“Our goal is to obtain a license and conduct legal business where the regulation allows.”
The ARB is Russia’s biggest banking collective and was formed in 1991. It currently has 240 members, per its website, but due to a 2017 controversy, it no longer counts the nation’s eight largest banks – including the giants Sberbank, VTB, and Gazprombank – among its number.
I
Read more on cryptonews.com
