Binance, a cryptocurrency exchange, called for the establishment of a “global regulatory framework for the crypto market.” The company also launched a “cryptocurrency is evil” advertising campaign, which includes “10 basic rights of cryptocurrency users.”

Binance promotes global crypto regulation and launches “crypto is evil” ad

Cryptocurrency exchange Binance called for the establishment of a “global regulatory framework for the crypto market” on Tuesday, and published “10 basic rights of crypto users” and several crypto advertisements in major newspapers.

The company explained that the 10 basic rights of crypto users “can serve as a guide for regulatory discussions and the development of a global framework for the crypto market”. The exchange believes that they “will serve as a guiding point for more fruitful dialogue with the larger industry, including other exchanges, blockchain innovators, policy makers, and world leaders.”

Binance pointed out that “the future of cryptocurrency needs to be user-centric” and elaborated:

As described in a series of advertisements published worldwide today, customer rights are designed to ensure secure access to emerging technologies, liquidity and secure platforms, as well as other steps to “protect users without restricting growth and innovation.”

The same ad titled “Encryption is Evil” appeared in major publications such as The Washington Post, New York Times, and Financial Times.

Part of the ad reads: “When it comes to cryptocurrencies, don’t let the headlines fool you. In addition to Bitcoin and Dogecoin, there is a world where everyone has access to financial opportunities, not just a few privileges. People. Encryption belongs to all of us.” It also lists all 10 basic rights of encrypted users, which can also be read here.

Binance CEO Changpeng Zhao commented:

Regulation and innovation are not mutually exclusive. As an industry, we hope to do everything possible to work with regulators and world leaders to determine what will become an effective regulatory policy, and most importantly, protect users and stimulate innovation.

Many regulators around the world have warned that Binance operates without authorization within its jurisdiction, including the United Kingdom, the Netherlands, South Africa, Hong Kong, Malaysia, Thailand, Lithuania, Italy, Singapore and Canada. US authorities are also investigating possible market manipulation and insider trading in Binance.

What do you think about Binance’s call for global encryption supervision and launching of “crypto is evil” advertising campaign? Please let us know in the comments section below.

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