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Binance Advocates Global Crypto Regulation

Binance Advocates Global Crypto Regulation

November 20, 2021

Binance placed a full-page advertisement in various newspapers this week, including the Financial Times.

Binance has been under fire from regulators for some time, but it is willing to comply more with the demands of the watchdogs. For example, there will be a real physical headquarter soon, so that the company is clearly approachable.

The crypto exchange tries to steer the regulatory framework a bit itself. Therefore, advertisements were placed in major newspapers such as the Washington Post, New York Times, and the Financial Times. With the headline "Crypto is evil", Binance is already trying to attract attention. Underneath it is immediately stated that the headlines in the newspapers are often overly negative.

"To welcome the next billion users, we are working with regulators and policymakers to build a global framework to protect users without halting innovation and growth," it said. Binance then lists ten fundamental rights of cryptocurrency users.

Binance points out that regulation is inevitable. The exchange then argues that users themselves should have the right to express their views on how the industry should be regulated. Regulators, policymakers, crypto industry companies and users must create a regulatory framework together, Binance believes. Furthermore, each country should be able to decide for itself which body is responsible for supervising the sector.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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