On Twitter, the Binance cryptocurrency exchange published “10 fundamental rights of crypto users”. The document describes the most important postulates of the crypto market, compliance with which is necessary for its stable operation and recognition by governments.
I.
Everyone should have access to financial instruments that provide greater economic independence.II.
Industry participants are responsible for cooperating with regulators and policymakers to form new standards for crypto assets. Smart regulation encourages innovation and helps ensure user safety.III.
Responsible crypto platforms are required to protect users from intruders and implement “Know Your Customer” (KYC) processes to prevent financial crimes.IV.
Confidentiality is a human right, and personally identifiable data should be subject to a strict level of protection.V.
Crypto investors have the right to access exchanges that keep their funds safe, securely stored with full deposit insurance.VI.
Healthy markets should maintain a steady level of liquidity to ensure a stable and frictionless trading environment.VII.
Regulation and innovation are not mutually exclusive. Crypto investors deserve secure access to new technologies and practices, including NFT, stablecoins, staking, yield-farming and more.VIII.
Closing the knowledge gap is important when it comes to cryptography. Users have the right to accurate information about crypto assets without fear of becoming a victim of unfair or misleading advertising.IX.
The market offering derivatives should be regulated by appropriate regulation. This ensures that all users meet the qualification requirements and that their transactions are fairly settled.X.
Crypto regulation is inevitable. Users have the right to share their opinions on how the industry should develop using their chosen blockchain platform.“If you’re looking for a warning, you won’t find it here. Crypto regulation will happen in the near future. And we believe that this will change the industry for the better” the document says.
Binance is the world’s largest cryptocurrency exchange. According to CoinMarketCap, the exchange’s volumes amount to about $38.8 billion. Exchange’s website is visited about 31 million times every week.
