Binance proposes to adopt "10 fundamental rights of crypto users"
Bitcoin exchange Binance has published a "10 Fundamental Rights of Crypto-users" document, intended to provide a basis for discussion and development of industry regulation.
Everyone should have access to financial instruments, such as cryptocurrency, that provide greater economic independence, reads the first paragraph.
The paper noted the need for "smart regulation", data privacy and security, as well as compliance with derivatives trading rules.
The authors called for marketplaces to protect users, implement KYC and AML measures, and ensure sufficient liquidity for trading.
Regulation is inevitable, reads the tenth paragraph of the manifesto.
That said, Binance is convinced that implementing regulatory rules for the crypto industry will ensure its "healthy development".
Regulation and innovation are not mutually exclusive. We want to do our best to work with regulators and global leaders to identify the most effective regulatory policies that, most importantly, protect users and drive innovation. We hope to work closely with regulators to help expand their knowledge of the industry and its capabilities, said Binance CEO Changpeng Zhao.
According to the "10 Fundamental Rights of Crypto Users", players in the crypto industry should have the following rights: