The UK is considering a new framework to govern the trading and lending of digital assets. Binance submitted feedback stating that special attention needs to be paid to consumer protection, market integrity and financial stability, but warned that excessive regulation could "inadvertently stifle innovation and growth, eliminate choice and competition, and may push consumers to unregulated markets or operators." While disclosure requirements should "provide consumers with the right information," Binance questioned whether trading venues can "assume the traditional responsibilities of issuers" without issuers.
Binance said decentralized finance needs to be “carefully defined” and differences need to be considered and accommodated when drafting new rules.
Changpeng Zhao (CZ), founder and CEO of Binance, tweeted that “listing/delisting should be handled by each exchange, which should be responsible for providing consumers with correct information based on clear disclosure rules and conducting adequate due diligence.”
CZ added that the company supports the introduction of a Crypto Market Abuse Regime “to mitigate the risks and challenges unique to cryptocurrencies.” (The Block)