Cryptocurrency platform Binance today announced hiring Mark McGinness, former Head of International Relations at the Dubai Financial Services Authority (DFSA), as its Chief Regulatory Liaison Officer.
Binance has been focusing on working more closely with regulators as the company aims to become a financial institution. The company’s international compliance team and advisory board have grown by 500% since 2020. In September Europol’s Nils Andersen-Röed joined Binance to strengthen investigations and audit team and before that former CEO of Financial Services Regulatory Authority at Abu Dhabi Global Market, Richard Teng, as its Chief Executive Officer.
The rapid mainstream adoption of blockchain and crypto technology signals a need for a deeper understanding and appreciation among governments, regulatory bodies and users alike. I aim to bridge this divide through working closely with industry leaders and policymakers to not only set best practices and regulatory frameworks, but also broaden their understanding of this dynamic industry.
McGinness brings to Binance more than three decades of experience as a financial services regulator. He has worked with industry stakeholders, international regulators and regional securities and insurance commissions. At DFSA, McGinness was a key player in establishing a global network of more than 85 regulators and settled 100 Memoranda of Understanding for the financial center. He has also served as DFSA’s Chief Decision Maker, deciding on matters referred by its Enforcement division.
Binance CEO ‘CZ’ Changpeng Zhao said:
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.
Before joining DFSA, McGinness served as Head of International Relations and Advisor to the Chairman of the Australian Securities and Investments Commission (ASIC). There he was responsible for its international engagement and advising on ASIC’s commitment to global standard-setting. Additionally, McGinness has held advisory positions as a subject expert for the International Monetary Fund (IMF) and the World Bank.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
