The former CEO of the first publicly traded blockchain is now the current CEO of Binance Australia. The exchange announced the appointment of Leigh Travers. The new CEO was previously CEO of DigitalX, a locally known blockchain technology and payments company.
Leigh Travers was with DigitalX for seven years. He was also a board member of Blockchain Australia, the leading local blockchain sector body. DigitalX broke records in June 2014 as the first publicly traded blockchain organization.
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This announcement was made after the company completed its reverse acquisition of Macro Energy Ltd, a company listed on the Australian Stock Exchange.
Travers reaction to the new office
Leigh Travers announced that building regulatory relationships is his priority for Binance Australia. He also stressed that he intends to expand Australia’s brand.
The company has a special role to play in this: helping to shape the growth of the industry. Therefore; they need to prioritize conversations and engagements with regulators and policy makers, Travers says.
In his speech, Travers added, “From an industry perspective, I understand the importance of developing the sector’s relationship with regulators. We also need to strengthen Binance Australia’s commitment to compliance and best practices.
Launch of Binance Australia
July 2020 brought the official launch of the Australia crypto exchange. InvestbyBit now operates the Australian subsidiary Binance.
InvestbyBit is a locally operated digital assets platform regulated by AUSTRAC (Australian Transaction Reports and Analysis Center). The platform went into operation in September 2017.
As we have seen from the reports from the Australian Business Register, InvestbyBit was renamed Binance Pay on February 22, 2019. Four days later, it changed its brand to Binance Lite. Then, again on August 6, 2020, the company made another name change to Binance Australia.
In April, Jeff Yew, the former CEO of Binance Australia, stepped down from the company. After leaving Binance Australia in April, Jeff launched Monochrome in May. Monochrome is a mutual fund aimed at both funds and wealthy individuals.
In his address to the Sydney Morning Herald last May, Leigh Yew said that Australia’s policymakers had failed to deliver sufficient regulatory clarity to the digital asset zone.
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Therefore, he calls for stronger regulation of the crypto trading exchanges. Especially since many private investors and institutions now admire digital assets such as 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 on the cutting edge of regulations when compared to other economies. However, there is a need to work harder on regulation to keep shady operators from exploiting everyday investors.
Featured image from Pixabay, chart from TradingView.com
