Binance to MPs: Crypto players must educate watchdogs to regulate

Treasury Select Committee

Cryptocurrency firms must make information about their market simpler for investors, and a “collective effort” is needed to “educate regulators” to act as effective watchdogs of the sector, a vice president at cryptocurrency exchange Binance has told MPs.

Daniel Trinder, vice-president of government affairs at Binance, the world's biggest crypto trading venue, made the statement to the Treasury Committee yesterday (14 November), as part of a panel of crypto industry representatives grilled by MPs on the safety of the market. Trinder said crypto is "complex for those not really in the detail of how these markets operate, which is common to some of the traditional markets, like fixed income, for example - but that needs to change". Santander to limit crypto buying over fraud spike The crypto market structure must, he added, "become si...