Binance now has the distinction of being the first entity from the crypto world to be a part of ABR, the Association of Russian Banks. This announcement was made by a company spokesperson on Friday, February 18th, 2022. At the same time, the ABR Presidium announced the creation of a new center of experts whose job was to focus on all issues related to crypto regulation. Olga Goncharova, who is Binance’s director for CIS and government relations in Russia, is the head.
Items that the center will deal with is getting professional ideas and opinions on how to circulate digital currency and set up similar financial assets. ABR and its many representatives will be provided with analytical data and materials to help disseminate the appropriate information.
As the largest system in the world to deal with cryptocurrency, Binance has established a solid and credible track record of working with regulators. This statement was made by Gleb Kostarev, Eastern Europe’s Binance director. He also said that he hopes that the company’s expertise would be well received by the banking community in Russia.
This is just Binance’s latest instance of embracing financial regulations set up by different countries around the world. According to information released by the Exchange, Binance had already signed an MoU with Dubai to accelerate the building of a hub to promote and create virtual assets around the world. The aim is to ensure economic growth over the long-term using digital innovation. It bears mention that Binance has already had problems with regulators the previous year.