In a major shift in its operational framework, Binance, recognised as the world's leading cryptocurrency exchange in terms of trading volume, has inaugurated its first-ever board of directors.

This strategic decision is part of the company's efforts to revamp its corporate governance and compliance mechanisms, particularly in the wake of its plea of guilt to charges in the U.S. surrounding violations of anti-money laundering (AML) regulations and sanctions.

The introduction of a board of directors marks a pivotal moment for Binance as it endeavors to navigate the complex regulatory landscape and enhance its commitment to legal and ethical standards in the digital currency market.