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Binance, The World’s Biggest Blockchain Ecosystem, Presented Today Ten Fundamental Rights For Crypto Users

Binance, the world’s biggest blockchain ecosystem, presented today ten Fundamental Rights for Crypto Users that can be used as a guide in regulatory negotiations and the building of global frameworks for crypto markets. Customers’ rights, as detailed in a series of adverts launched today around the world, are intended to assure safe access to emerging technologies, liquidity, and secure platforms, among other efforts to “protect users without impeding growth and innovation.”

Binance hopes that the ten Fundamental Rights for Crypto Users articulated today will serve as a starting point for more fruitful discussions with the larger sector, including other exchanges, blockchain innovators, legislators, and international leaders.

 

Here are those 10 fundamental rights for crypto users :

I.

Every human being should have access to financial tools, like crypto, that allow for greater economic independence.

II.

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.

III.

Responsible crypto platforms have an obligation to protect users from bad actors and implement Know Your Customer (KYC) processes to prevent financial crimes.

IV.

Privacy is a human right, and personally identifiable information (PII) data should be subject to strict levels of protection.

V.

Crypto users have the right to access exchanges that keep their funds secure, in safe custody with comprehensive deposit insurance.

VI.

Healthy markets should maintain a robust level of liquidity to ensure a stable and frictionless trading environment.

VII.

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.

VIII.

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.

IX.

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.

X.

Crypto regulation is inevitable.* Users have the right to share their voice on how the industry should evolve with their blockchain platform of choice.