Binance Releases ‘Rights for Crypto Users’, Calls for Global Regulations
Binance is pushing for a global regulation that would affect cryptocurrency markets. The popular cryptocurrency exchange released a publication with the title “10 Fundamental Rights for Crypto Users.” It contains information that will serve as a “guiding hand in regulatory discussions and development of global frameworks for crypto markets.”
The exchange has been facing intense scrutiny from regulators in the last year in several countries because of issues involving money laundering controls. US regulators are also investigating Binance on allegations of insider trading and market manipulation.
Binance CEO Changpeng Zhao previously said in September that the company is planning to centralise its business structure so it can “work well with regulators.” The crypto exchange is willing to work with policymakers in the proposed global regulatory framework to achieve the mutual goal of protecting users while “allowing innovation to continue in a responsible manner, ensuring a healthy trajectory forward” for the crypto industry.
The company has published several ads titled “Crypto is Evil” in major newspapers like the New York Times, the Washington Post and the Financial Times. In the series of ads, Binance highlighted customer rights and the need to ensure safe access to emerging technologies, secure platforms and liquidity among others.
The ad contains text urging readers to not “let the headlines fool you.” Binance said there’s more to crypto than just Bitcoin and Dogecoin as financial opportunities are accessible for everyone. The company believes that “crypto belongs to all of us.”
Zhao remarked that regulation and innovation are not mutually exclusive. Binance is willing to “do everything possible” with regulators and world leaders for the protection of users while promoting innovation.
Reissa covers latest news for Revolution Crypto.