As criticism of Binance grows, he joins a lobbying organization

Binance has joined the Chamber of Digital Commerce, which is a lobbying organization for the cryptocurrency market in the United States, according to a press release issued by the exchange on Dec. 20.

After receiving feedback that it supposedly operated in an unregulated manner, Binance finally decided to make this decision.

Following the demise of the exchange’s main rival, FTX, the exchange has come under an increasing amount of criticism from its adversaries.

Binance Vice President of Public Relations Joanne Kubba expressed the expectation that the association would help bring about clearer legislation for the cryptocurrency industry in the United States.

Binance has come under particular scrutiny as a result of the fact that it is a high volume exchange that does not have a defined geographic location or the legal status that it should. This is because the FTX failure has led to an increase in crypto regulation demands, and Binance has come under particular scrutiny as a result.

On Dec. 14, Kevin O’Leary testified in front of a congressional committee and said that Binance is an unregulated monopoly responsible for the failure of FTX.

To prove that it can be trusted and that it has adequate financial resources, Binance has prepared a proof of reserve that has undergone an independent audit.

On the other hand, the proof of reserve has been criticized for the fact that it does not expose Binance’s internal controls or corporate structure.

In the year 2020, the cryptocurrency exchange known as Binance in the United States joined the ranks of members of the Chamber of Digital Commerce.

Both the global trading platform and a separate cryptocurrency exchange go by the name Binance. Binance was founded in 2017.

Its main rival, FTX, was also known to provide money to political candidates and campaigns in the United States.

On the other hand, it seems that the international organization Binance has never directly joined a lobbying group in the United States before. This may be the first time you’ve done it.

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