Binance, the world’s largest cryptocurrency exchange, announced that it has joined the Association of Banks of Russia (ABR), becoming the first crypto-centric business to do so.
“Binance, the world’s leading blockchain ecosystem, is announcing its membership in the Association of Banks of Russia to provide a dialog with federal authorities, legislators, experts in the field of digital financial assets and digital currencies.”
Binance стала первой криптовалютной организацией, которая вошла в Ассоциацию банков России.
— BinanceRussian (@BinanceRussian) February 18, 2022
Binance’s government relations division in Russia
Simultaneously, the Presidium of the ABR announced the formation of a new “Expert Center for Digital Financial Assets and Digital Currencies,” which would address a broad range of issues surrounding crypto regulation. Olga Goncharova, the head of Binance’s government relations division in Russia and the CIS, was made chairperson.
The new center will also cover “professional opinions on the circulation of digital financial assets and digital currencies,” as well as supplying the ABR and its representatives with “experienced and analytical materials on this subject to generalize and distribute worldwide experience.”
“As the largest cryptocurrency ecosystem in the world, Binance has a solid track record of working with regulators. I am sure that our developments and our expertise will be positively received by the Russian banking community,”
-Gleb Kostarev, Binance director for Eastern Europe, told RBC.
Binance and international regulations
This is not the first time that Binance has taken steps to comply with international regulations. The exchange previously revealed that it had signed a Memorandum of Understanding with the Dubai World Trade Centre Authority to “explain the mission of accelerating the creation of a new industry center for global virtual assets,” as CryptoSlate reported last December.
“With the MoU, Binance will help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation,” the company explained.