UncategorizedWhy Crypto Needs Regulation: Knowing Your 10 Fundamental Rights

November 30, 20210

CRYPTO IS EVIL

At AURIX, we believe that crypto belongs to everybody and that to reach the next billion users, blockchain and crypto platforms must work with regulators and policymakers to develop global regulatory frameworks to realize the mutual goal of protecting users. While it’s true that crypto has come a long way, as of today, only a small fraction of the world’s population uses crypto regularly.

WHEN IT COMES TO CRYPTO,
DON’T LET THE HEADLINES FOOL YOU.

There’s a world beyond Bitcoin and Dogecoin, one where financial opportunity is accessible to everyone, not just the privileged few.
Crypto belongs to all of us. But there’s still work to be done if we would like this breakthrough innovation to become a part of our daily lives. Like seat belts during a car, a more regulated crypto market provides greater protections for everyday users.
To welcome the next billion users, Aurix is working with regulators and policymakers to support a global framework that protects users without limiting growth and innovation.
Together, we will unlock crypto for all by establishing these fundamental rights:

10 FUNDAMENTAL RIGHTS FOR CRYPTO USERS
I.
Every person should have access to financial tools, like crypto, that leave greater economic independence.
II.
Industry participants have a responsibility to figure with regulators and policymakers to shape new standards for crypto assets. Smart regulation encourages innovation and helps keep users safe.
III.
Responsible crypto platforms should protect users from bad actors and implement Know Your Customer (KYC) processes to prevent financial crimes.
IV.
Privacy is a human right, and personally identifiable information (PII) data should be subject to strict levels of protection.
V.
Crypto users have the proper to access exchanges that keep their funds secure, in safe custody with comprehensive deposit insurance.
VI.
Healthy markets should maintain a strong level of liquidity to make sure a stable and frictionless trading environment.
VII.
Regulation and innovation are not mutually exclusive. Crypto users deserve safe access to emerging technologies and practices, including NFTs, stablecoins, staking, yield-farming, and more.
VIII.
Closing the knowledge gap is important when it involves crypto. Users have the proper accurate information on crypto assets, without worrying about falling victim to unfair or deceptive advertising.
IX.
Marketplaces that provide derivative instruments should be subject to acceptable regulations. This ensures all users meet eligibility requirements and that their transactions are fairly settled.
X.
Crypto regulation is inevitable.* Users have the proper to share their voice on how the industry should evolve with their blockchain platform of choice.
It’s time for industry leaders, regulators, policymakers, and users to assist shape the longer term of worldwide finance together. We believe it should be up to every nation’s policymakers and their constituents to decide on who should have oversight over the industry.

Crypto belongs to everyone.
So let’s make it ready for everyone.

How would you wish to ascertain the longer term of worldwide finance evolves?
We encourage you to share your perspective with your crypto platform of choice.

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