{"id":52942,"date":"2021-11-16T12:42:24","date_gmt":"2021-11-16T10:42:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52942"},"modified":"2025-09-03T12:39:05","modified_gmt":"2025-09-03T09:39:05","slug":"binance-calls-for-global-regulation-of-the-crypto-industry-and-stronger-user-protections","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-calls-for-global-regulation-of-the-crypto-industry-and-stronger-user-protections\/","title":{"rendered":"Binance calls for global regulation of the crypto industry and stronger user protections"},"content":{"rendered":"<p>Crypto exchange Binance published a document \u201c10 Fundamental Rights of Crypto Users,\u201d intended as a foundation for discussion and the development of regulation in the industry.<\/p>\n<figure class=\\\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<blockquote class=\\\"twitter-tweet\\\" data-width=\\\"500\\\" data-dnt=\\\"true\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The future of crypto needs to be user-focused. And we\u2019re doing everything we can to make that happen. <a href=\\\"https:\/\/t.co\/LGGoYSL4ZJ\\\">pic.twitter.com\/LGGoYSL4ZJ<\/a><\/p>\n<p>\u2014 Binance (@binance) <a href=\\\"https:\/\/twitter.com\/binance\/status\/1460518581137981441?ref_src=twsrc%5Etfw\\\">November 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\n<\/div>\n<\/figure>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Every person should have access to financial tools such as cryptocurrency, which provide greater economic independence,&#8221; the first point says.<\/p>\n<\/blockquote>\n<p>The document notes the need for \u201csmart regulation,\u201d data privacy and security, and compliance with derivatives sale rules.<\/p>\n<p>The authors urged marketplaces to protect users, implement <span data-descr=\\\"know your customer\\\" class=\\\"old_tooltip\\\">KYC<\/span> and <span data-descr=\\\"anti-money laundering\\\" class=\\\"old_tooltip\\\">AML<\/span>, and ensure sufficient liquidity for trading.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Regulation is inevitable,&#8221; the tenth point of the manifesto states.<\/p>\n<\/blockquote>\n<p>At the same time, Binance believes that implementing regulatory rules for the crypto industry will ensure its \u201chealthy development.\u201d<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Regulation and innovation do not exclude each other. We want to do everything possible to work with regulators and global leaders to define the most effective regulatory policy, which, most importantly, will protect users and stimulate innovation. We hope for close cooperation with regulators to help broaden their knowledge of the industry and its potential&#8221;, \u2014 <a href=\\\"https:\/\/www.prnewswire.com\/news-releases\/binance-calls-for-global-regulatory-frameworks-for-crypto-markets-releases-10-fundamental-rights-that-protect-crypto-users-301424879.html\\\">\u0437\u0430\u044f\u0432\u0438\u043b<\/a> CEO Binance \u0427\u0430\u043d\u043f\u044d\u043d \u0427\u0436\u0430\u043e.<\/p>\n<\/blockquote>\n<p>In recent months, regulatory authorities in several countries <a href=\"https:\/\/u1f987.com\/en\/news\/south-africa-regulator-warns-investors-off-binance\">have issued warnings<\/a> regarding Binance&#8217;s activities or <a href=\"https:\/\/u1f987.com\/en\/news\/malaysia-announces-enforcement-actions-against-binance\">taken action<\/a> against the exchange.<\/p>\n<p>Against these issues, Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-outlines-binances-push-to-protect-customers-and-ensure-compliance\">published an open letter<\/a>, in which he outlined the platform&#8217;s efforts to protect customers and ensure compliance.<\/p>\n<p>In August Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-introduces-mandatory-user-verification\">introduced<\/a> mandatory user verification.<\/p>\n<p>In September, Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-binance-abandons-its-decentralised-business-model\">stated the company\u2019s abandonment of a \u201cdecentralised\u201d business model. The lack of a headquarters is a negative signal to regulators, he noted at the time.<\/p>\n<p>The exchange has also strengthened its staff with specialists such as former U.S. Treasury criminal investigator Greg Monahan, former Europol darknet expert Nils Andresen-Read, and Amjad Kakish, who previously worked at the U.S. Internal Revenue Service.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance published a document &#8217;10 Fundamental Rights of Crypto Users&#8217;, intended as the basis for discussion and the development of regulation in the industry.<\/p>\n","protected":false},"author":1,"featured_media":52943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,36],"class_list":["post-52942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"41","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52942"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52942\/revisions"}],"predecessor-version":[{"id":52944,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52942\/revisions\/52944"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52943"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}