Crypto exchange giant Binance has appointed Mark McGuinness, head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory communications officer.
In a statement issued Thursday, Benson said McGuinness would contribute to pushing the company toward better relations with regulators around the world.
In fact, McGuinness is the latest payroll hire with regulatory consent and the ability to engage with financial regulators.
Prior to his career with DFSA, McGuinness was also head of international relations at the Australian Securities and Investment Commission.
The former DFSA executive was also an advisor to the International Monetary Fund.
In an interview with Cointelegraph, McGuinness said he plans to build on the experiences and relationships he gained during his career to improve Benson’s position with regulators, adding:
“I look forward to bringing this experience to Binance where I will work with industry leaders and policymakers to establish not only the best practices and regulatory frameworks but also to help expand their understanding of the blockchain and crypto industry.”
Commenting on joining McGuinness’s Benson Compliance team, the company’s CEO, Chang Peng Zhao, a former DFSA executive, identified 30 years of experience working with global regulators and other policy makers.
Zhao called McGuinness’s appointment a “big step” for Benson, especially as the business seeks to navigate a harsh crypto-regulatory climate.
Related: Binance hired a former IRS-CI special agent to head the intelligence department
As previously reported by Cointelegraph, Binance has been forced to shut down several crypto trading services in many jurisdictions worldwide.
In September, Binance discontinued Fiat deposit and spot crypto trading services for users in Singapore. The platform has shut down crypto futures trading in Australia.
The exchange giant has been the subject of significant scrutiny from state-owned enterprises, many of which have stated that Binary is not licensed to operate in their respective territories.
McGuinness told Cointelegraph that Binance maintains a long-term commitment to the industry and is keen to create a “sustainable ecosystem around blockchain technology.”
McGuinness wrote to Cointelegraph, “In addition to localizing our activities and businesses in compliance with local regulations, we strive for productive dialogue with regulators so that we can formulate best practices and rules for the long-term benefit of all participants.”
Earlier in October, reports emerged that Binance could set up its headquarters in Ireland. The exchange has been the subject of “globe-trotting” allegations by critics who say the platform’s activities indicate attempts to evade regulatory provisions.
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