Binance release 10 fundamental rights for Crypto users. There’s a world beyond Bitcoin and Dogecoin, one where financial opportunity is accessible to everyone, not just the privileged few.
Crypto belongs to all of us. But there’s still work to be done if we want this breakthrough innovation to become part of our daily lives. Like seat belts in a car, a more regulated crypto market provides greater protections for everyday users.
To welcome the next billion users, Binance is working with regulators and policymakers to support a global framework that protects users without limiting growth and innovation.
Together, we can unlock crypto for all by establishing these fundamental rights:
10 Fundamental Rights For Crypto Users
- Every human being should have access to financial tools, like crypto, that allow for greater economic independence.
- Industry participants have a responsibility to work with regulators and policymakers to shape new standards for crypto assets. Smart regulation encourages innovation and helps keep users safe.
- Responsible crypto platforms have an obligation to protect users from bad actors and implement Know Your Customer (KYC) processes to prevent financial crimes.
- Privacy is a human right, and personally identifiable information (PII) data should be subject to strict levels of protection.
- Crypto users have the right to access exchanges that keep their funds secure, in safe custody with comprehensive deposit insurance.
- Healthy markets should maintain a robust level of liquidity to ensure a stable and frictionless trading environment.
- Regulation and innovation are not mutually exclusive. Crypto users deserve safe access to emerging technologies and practices, including NFTs, stablecoins, staking, yield-farming, and more.
- Closing the knowledge gap is essential when it comes to crypto. Users have the right to accurate information on crypto assets, without fear of falling victim to unfair or deceptive advertising.
- Marketplaces that offer derivative instruments should be subject to the appropriate regulations. This ensures all users meet eligibility requirements and that their transactions are fairly settled.
- Crypto regulation is inevitable.* Users have the right to share their voice on how the industry should evolve with their blockchain platform of choice.
It’s time for industry leaders, regulators, policymakers, and users to help shape the future of global finance together. We believe it should be up to each nation’s policymakers and their constituents to decide who should have oversight over the industry.
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