Binance calls for global regulatory frameworks for crypto markets
…releases 10 fundamental rights that protect crypto users
Binance, one of the leading block chain ecosystems globally, has announced 10 fundamental rights for crypto users that can serve as a guiding hand in regulatory discussions and development of global frameworks for crypto markets.
The customer rights, as described in a series of advertisements published today globally, are meant to ensure safe access to emerging technologies, liquidity, and secure platforms among other steps to “protect users without limiting growth and innovation.
“At Binance, our priority has always been the everyday user, from their security to their experience as part of a greater community. That’s what crypto is all about, and it’s important that we don’t lose sight of that as an industry. With these 10 basic rights, we hope to provide a voice to those who have traditionally been muted by high finance, said Changpeng Zhao (CZ), Binance CEO.
Amid the recent market highs, an influx of new investors, and maturation of the crypto industry, Binance is working with regulators and policymakers to develop global regulatory frameworks that achieve the mutual goal of protecting users, while allowing innovation to continue in a responsible manner, ensuring a healthy trajectory forward for the industry.
Binance believes the 10 fundamental rights for crypto users outlined will serve as a guiding point to launch more productive conversations with the larger industry, including other exchanges, blockchain innovators, policymakers and world leaders.
In the ads describing the 10 fundamental rights, Binance acknowledges that greater regulation is inevitable and stresses that “smart regulation” is beneficial. “Like seatbelts in a car, a more regulated crypto market provides greater protections for everyday users.”
“Regulation and innovation are not mutually exclusive. We want to do everything possible as an industry to work with regulators and world leaders to identify what is going to be the effective regulatory policy that, most importantly, protects users and spurs innovation. At Binance, we look forward to working closely with regulators to help increase their knowledge on the industry and its possibilities,” CZ said.