Binance has hired a former Brazilian government official as the country pushes for innovation in the digital asset space. Binance appointed the former Brazilian central banker and economy minister to its board of directors, according to the local newspaper O Globo.
Henrique Meirelles, who most recently served as the state of Sao Paulo’s finance minister, led the central bank for eight years under President Luiz Inacio Lula da Silva until 2011.
He later served as finance minister for two years under Michel Temer, whose Brazilian Democratic Movement party split from Lula’s Workers’ Party in 2016. Meirelles will almost certainly be a part of Lula’s presidency if he wins the election next month.
Brazil has been working hard to put regulations and legislation in place to promote the cryptocurrency market.
The central bank of Latin America’s largest economy has demonstrated an openness to financial market innovation, most recently announcing a proposal for decentralized finance (DeFi) liquidity pool from Ita Unibanco, the country’s largest bank, as one of several new projects aimed at new financial solutions. Binance did not immediately respond to a request for comment.
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