Blockchain ecosystem Binance is presenting the 10 fundamental rights for crypto users that it says can be used as a starting point for regulatory discussions leading to the development of a global framework.
In a series of announcements that are distributed globally, the consumer rights outlined are intended to encourage protected access to emerging technologies on secure platforms that offer liquidity, with steps to "protect users without limiting growth and innovation." .
See also: Proactive Approach to Regulation Best Outcome for Crypto Industry, Professionals Tell PYMNTS
โAt Binance, our priority has always been the everyday user, from their safety to their experience as part of a larger community. That's what crypto is all about, and it's important that we don't lose sight of that as an industry, "said Binance CEO," CZ "(Changpeng Zhao) said in a press release emailed to PYMNTS.com.
He added that the 10 Basic Rights are meant to help "give a voice" to people who have largely been "silenced by high finance."
The crypto space has matured, attracting a flood of new investors amid a volatile market that has seen recent peaks and all-time highs. Binance is collaborating with regulators and legislators to establish global regulatory frameworks with the ultimate goal of protecting users while leaving room for responsible innovation and ensuring a "healthy trajectory for the industry," according to the statement.
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Binance said that it feels that the new 10 fundamental rights for crypto users will be a starting point that will lead to important discussions with the industry at large - different exchanges, blockchain developers, legislators and leadership around the world.
In announcements outlining fundamental rights, Binance emphasizes the inevitability of regulation, but points to "smart regulation" as the answer.
"Like seat belts in a car, a more regulated crypto market provides greater protections for everyday users," the announcement states.
โRegulation and innovation are not mutually exclusive. At Binance, we look forward to working closely with regulators to help increase their awareness of the industry and its capabilities, โsaid CZ.
