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Binance seeks greater regulation of crypto market

By Maria Diamond
20 November 2021   |   2:47 am
Binance, a blockchain ecosystem, has announced that it is working with regulators and policymakers to develop global regulatory frameworks that protect users while allowing innovation
Cryptocurrency

[FILES] Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021. REUTERS/Edgar Su/Illustration/File Photo<br />

Binance, a blockchain ecosystem, has announced that it is working with regulators and policymakers to develop global regulatory frameworks that protect users while allowing innovation as well as ensuring a healthy trajectory for the industry.

Binance said the fundamental rights for Crypto users would serve as a regulatory guide to ensure safe access to emerging technologies, liquidity and secure platforms so as to protect users without limiting growth and innovation.

  
According to Binance’s CEO, Changpeng Zhao, “Binance acknowledges that greater regulation is inevitable and beneficial, as a more regulated crypto market provides greater protections for everyday users. This is why our priority has always been the everyday user, from their security to their experience as part of a greater community.

So with these fundamentals, we hope to provide a voice to those who have traditionally been muted by high finance.”

He added that these rights would serve as a guiding point to launch more productive conversations with the larger industry, including other exchanges, blockchain innovators, policymakers and world leaders.

“We want to do everything possible as an industry to work with regulators and world leaders to identify what is going to be the effective regulatory policy that most importantly protects users and spurs innovation,” he added.

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