Blockchain ecosystem Binance is introducing the 10 Fundamental Rights for Crypto Users that it says can be used as the starting point for regulatory discussions leading to the development of a global framework.
In a series of advertisements being distributed globally, the outlined consumer rights are intended to encourage protected access to emerging technologies on secure platforms offering liquidity, with steps to “protect users without limiting growth and innovation.”
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“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,” Binance CEO “CZ” (Changpeng Zhao) said in a press release emailed to PYMNTS.com.
He added the 10 basic rights are intended to help “give a voice” to people who largely have “been muted by high finance.”
The crypto space has matured, attracting a flood of new investors amid a volatile market that’s experienced recent spikes and record highs. Binance is collaborating with regulators and lawmakers to establish global regulatory frameworks with an end-goal of safeguarding users while still making room for responsible innovation and ensuring a “healthy trajectory forward for the industry,” according to the release.
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Binance said that it feels that the new 10 Fundamental Rights for Crypto Users will be a jumping-off point that will lead to important discussions with the industry at large — different exchanges, blockchain developers, legislators, and leadership worldwide.
In the advertisements outlining the fundamental rights, Binance stresses the inevitability of regulation but points to “smart regulation” as the answer.
“Like seatbelts in a car, a more regulated crypto market provides greater protections for everyday users,” the ad indicates.
“Regulation and innovation are not mutually exclusive. At Binance, we look forward to working closely with regulators to help increase their knowledge on the industry and its possibilities,” said CZ.
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