Leading crypto exchange Binance demonstrates commitment to making crypto industry safe for users
At the core of cryptocurrencies is decentralization, eliminating intermediaries and empowering users to manage their own money. With decentralization being the very goal of digital assets, it is no wonder that regulation seems to have no place in this sector. While this opinion is popular among cryptocurrency users, history has proven this viewpoint to be shortsighted.
Purchasing from a lesser understood asset class that exists in the “Wild West” does little for investor confidence. Subsequently, as cryptocurrency assets continue to grow in value, the media has been quick to point out the number of scams, insider trading and market manipulation, including but not limited to pump and dump schemes.
These risks are in addition to the less obvious, including the trustworthiness of an online exchange or the potential for interest-earning platforms going bankrupt. These concerns may be addressed with regulation, and even the most skeptical of investors may be willing to take the plunge into cryptocurrencies.
Presently, industry leaders like Binance, one of the largest cryptocurrency exchanges in the world, have made it their aim to address growing concerns around regulation. Speaking about the importance of regulation, the CEO of Binance, better known as CZ, urges users to compare cryptocurrency regulations to that of a car.
He argues,
“When the car was first invented, there weren’t any traffic laws, traffic lights, or even safety belts. Laws and guidelines were developed along the way as the cars were running on the road.”
Recognizing the value of regulation, it is no surprise that Binance has made it a part of its commitment to ensuring the safety of users when navigating the crypto sphere. By practicing what they preach, the
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