Binance, the world’s largest cryptocurrency exchange announced two new big-name appointments, less than two weeks after handing the role of government liaison to former US Senator Max Baucus on March 11th.
The global blockchain giant appointed former Financial Action Task Force (FATF) Executive Secretary, Rick McDonell, and former Head of the Canadian delegation to the FATF, Josee Nadeau, to provide high-level guidance on the organization’s global compliance and regulatory strategies.
According to Binance, the addition of McDonell and Nadeau will strengthen their efforts to combat anti-money-laundering (AML) and ensure their approach to the NON-financing of terrorism is world-class. This move is clearly in line with the corporate objective of building stronger relations with regulatory and law enforcement bodies worldwide.
The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989 on the initiative of the G8 to develop policies to combat money laundering and the financing of terrorism. The addition of McDonell and Nadeau to Binance, given their association with FATF, speaks volumes about Binance’s commitment to ensuring they are leading the way and operating a properly regulated exchange.
The earlier appointment of Senator Max Baucus, Montana’s longest-serving Senator and former US Ambassador to China was widely applauded in the cryptocurrency industry. McDonell and Nadeau bring a wealth of experience and credibility to Binance so this is fantastic news from the world’s largest cryptocurrency exchange.
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