Binance has become the first cryptocurrency member of Russia's Bank Association

Binance crypto exchange intends to create a conversation with federal authorities, legislators, and experts in the crypto industry.


Binance has become the first cryptocurrency member of Russia's Bank Association
Binance joins Russia’s Bank Association | Image: Binance

Binance, a cryptocurrency exchange, revealed last Friday that it has become the first crypto-centric firm to join the Association of Banks of Russia (ABR).


Binance Russia noted, "Binance, the world's top blockchain ecosystem, is announcing its participation in the Association of Banks of Russia to create a dialog with federal authorities, legislators, and specialists in the field of digital financial assets and digital currencies."


Simultaneously, the ABR's Presidium announced the formation of a new "Expert Center for Digital Financial Assets and Digital Currencies," which will focus on a variety of crypto-related topics.


The head of this new agency will be Olga Goncharova, Binance's government relations director in Russia and the CIS.


The new unit will prepare "professional judgments on the circulation of digital financial assets and digital currencies," as well as provide "expert and analytical materials on this topic to generalize and disseminate foreign experience" to the ABR and its representatives.


"Binance has a proven track record of engaging with regulators as the world's largest cryptocurrency ecosystem." "I am confident that the Russian financial community will welcome our innovations and experience," Binance director for Eastern Europe Gleb Kostarev told RBC.