Former DigitalX Executive Appointed As The New Binance Australia CEO
August 31 2021 - 6:01PM
NEWSBTC
The former executive of the first blockchain listed publicly is now
the current CEO of Binance Australia. The exchange announced Leigh
Travers’s appointment. The new CEO was formerly the chief executive
of DigitalX, a locally known blockchain technology and payment
enterprise. Leigh Travers served seven years at DigitalX. He also
served as a board member in Blockchain Australia, the local leading
blockchain sector body. DigitalX broke records as the first
publicly-listed blockchain organization in June 2014. Related
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Tokenized Products On Tezos This announcement was made after the
firm completed the reverse takeover of Macro Energy Ltd, an
Australian Stock Exchange-listed Firm. Travers Reaction To The New
Office Leigh Travers disclosed that his priority is to build
relationships for Binance Australia with regulators. Also, he
emphasized that he aims to grow Australia’s brand. He stated that
the company has a special part to play: to become involved in
assisting in structuring the industry’s growth. That is why; they
need to prioritize conversations and engagements with regulators
and policymakers, says Travers. In his speech, Travers added that
“looking from the industry’s viewpoint, I’m aware that it is
essential to continue developing the sector’s relationship with the
regulatory bodies. Also, we need to strengthen Binance Australia’s
dedication to compliance as well as best practice. Binance
Australia Launch July 2020 brought the official launching of crypto
exchange Australia. Meanwhile, InvestbyBit operates the Australian
Binance subsidiary. InvestbyBit is a locally operating digital
asset platform that AUSTRAC (Australian Transaction Reports and
Analysis Centre) regulates. The platform went into operations on
Sept. 2017. As we gathered from the Australian Business Register
reports, on February 22, 2019, InvestbyBit was rebranded to Binance
Pay. Four days later, it changed its brand to Binance Lite. Then,
again on August 6, 2020, the company undertook another rebranding
to become Binance Australia. In April, Jeff Yew, the former CEO of
Binance Australia, resigned from the company. After leaving Binance
Australia in April, Jeff launched Monochrome in May. Monochrome is
a unit trust which targets funds as well as high net worth persons.
In his speech at Sydney Morning Herald last May, Leigh Yew
expressed that Australia’s policymakers failed in their duty to
deliver sufficient regulatory clarity to the digital asset zone.
Related Reading | Cream Finance Loses $25 Million To A Flash Loan
Attack Thus, he calls for higher regulation in crypto trading
exchanges. Most especially since many retail investors and
institutions now admire digital assets like Ethereum and bitcoin.
The cryptocurrency market is following an uptrend on the daily
chart | Source: Crypto Total Market Cap on TradingView.com Yew
acknowledged that Australia is more up-to-date with its regulations
as compared to other economies. However, there is the need to work
harder on regulation to stop dodgy operators from exploiting
everyday investors. Featured Image From Pixabay, Chart From
TradingView.com
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