Binance has announced the appointment of former Dubai Financial Services Authority (DFSA) Director, Mark McGinness, as Chief Regulatory Liaison Officer.
Changpeng Zhao, CEO, Binance, said the following (on their blog):
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. And 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.
Mark McGinness also expressed their views on the exciting development as follows:
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.
Mark McGinness has a rich experience of over three decades as a profound financial services regulator. They have worked alongside key “industry stakeholders, international regulators, regional securities, and insurance commissions.”
In the past role, Mark McGinness led DFSA’s international engagement, being central in developing a global network of 85 regulators. Mark McGinness also settled 100 Memoranda of Understanding (MoUs) for the DFSA. Mark McGinness has also worked as DFSA’s Chief Decision Maker, working on the Enforcement division-referred issues.
Mark McGinness’ work as Head of International Relations and Advisor to the Chairman of the Australian Securities and Investments Commission (ASIC) is noteworthy. Previously, Mark has also assumed responsibility for international engagement and advisory on “ASIC’s commitment to global standard-setting.” Mark McGinness’ subject expert advisory role for the International Monetary Fund (IMF) and the World Bank is another star on his profile.