Binance crypto exchange hires its second regulatory expert from UAE

Binance has once again hired a former regulatory expert who has worked in the UAE to join their team. Binance crypto exchange has appointed of Mark McGinness, former Head of International Relations at the Dubai Financial Services Authority (DFSA), as its Chief Regulatory Liaison Officer. Prior to this Binance had hired Richard Teng, former CEO of FSRA at Abu Dhabi Global Market as the CEO of Binance Singapore.

Following a commitment to lead the industry in working more closely with regulators as it charters a path forward to become a financial institution, Binance has grown its international compliance team and advisory board by 500% since 2020. Recent appointments include Greg Monahan, former US Treasury Criminal Investigator, as Global Money Laundering Reporting Officer (GMLRO); as well as Tigran Gambaryan and Matthew Price, both former Special Agents of the Internal Revenue Service (IRS), as Global Intelligence and Investigations and Senior Director of Investigations, respectively.

Mark has over three decades of experience as a leading financial services regulator, working with industry stakeholders, international regulators and regional securities and insurance commissions. In Mark’s previous role leading international engagement for the DFSA, he was instrumental in establishing a global network of over 85 regulators and settled 100 Memoranda of Understanding for the financial center. Mark also held the position of the DFSA’s Chief Decision Maker, deciding on matters referred by its Enforcement division.

Prior to joining DFSA, Mark was Head of International Relations and Advisor to the Chairman of the Australian Securities and Investments Commission (ASIC), where he was responsible for its international engagement and advising on ASIC’s commitment to global standard-setting. Mark has also held advisory positions as a subject expert for the International Monetary Fund (IMF) and the World Bank.

“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, said Binance CEO ‘CZ’ Changpeng Zhao. “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.”

“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,” said Mark. “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.”