- The Chamber of Digital Commerce is an American lobbying organization.
- Traditional banking institutions including Citi, Visa, and MasterCard are also members.
Binance is increasing its attempts to comply with American law enforcement and regulators. Earlier today, the biggest cryptocurrency exchange in the world by trading volume stated that it has joined the Chamber of Digital Commerce, an American lobbying organization, in order to “help establish policies that benefit and protect users.”
Binance has joined the group’s Executive Committee, where it plans to influence crypto policy in the United States by “educate, advocate, and bring forth solutions.” The Chamber of Digital Commerce promotes the use of digital assets and blockchain-based technology with government authorities and bills itself as the biggest organization of its kind in the world.
Binance Joins Other Elite Members
Binance.US, Binance’s American subsidiary, joined the group late last year. Traditional banking institutions including Citi, Visa, and MasterCard are also members, as are major companies in the cryptocurrency field such as Dapper Labs, Ripple, and Circle.
Moreover, this decision by Binance comes as politicians in the United States struggle to figure out how to regulate the cryptocurrency market. After investors, many from the United States lost crypto assets worth possibly billions of dollars in the cataclysmic collapse of digital asset exchange FTX in November, lawmakers took notice.
Binance recently acquired Tokocrypto exchange based in Indonesia thus entering the Indonesian market without having to worry about regulatory approvals. Post FTX fiasco, many crypto firms have faced the heat of transparency over their reserves of customer funds. FTX’s former CEO was arrested in the Bahamas last week and as per reports is seeking extradition to the US.
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Binance Expands Into Indonesia by Acquiring Tokocrypto Exchange
