The still obvious youth of the cryptocurrency sector forces him to sail blindly in many areas. However, some necessary questions deserve answers, such as the unpleasant subject of the estate. The founder of Binance, Changpeng Zhao, may well have the solution.
Transmit your cryptocurrencies: an essential question
In most cases, everything related to the cryptocurrency sector is accompanied by a relative youth. It must be said that Bitcoin has just breathed his 16th candle in October of last year, with an audience widely enrolled in generations under the age of 30.
An observation which does not necessarily allow us to escape certain important questions, such as the fact of knowing How to transmit your cryptos in the case of a death. Especially in the face of Procedures possibly complex and very clearly obsolete regulations.
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However, the transmission of cryptocurrencies can quickly represent substantial sums in the case of judicious investments or a controlled BTC accumulation procedure. This is the reason why the founder of Binance, Changpeng Zhaorecently returned to the subject.
A publication on the X network intended to tackle this delicate subject, because ” Human beings cannot yet live forever »» he wrote. For this reason, The question of a “testamentary function” should be envisaged on a large scale by crypto exchanges.
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Changpeng Zhao offers a “testamentary function”
From Its forced regulatory retirement from his post as a manager of Binance, Changpeng Zhao Reinvents itself as a leading crypto advisor. But it is perhaps the approach of the fifties – he is now 48 years old – which pushes him to To question the transmission of digital heritage.
An approach to which he has just brought A rather well thought out solutionwith regard to funds held on centralized exchanges (CEX). Indeed, Changpeng Zhao proposes to set up an “testamentary function” applicable in the event of death, with procedures decided upstream by the user concerned.
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Each platform should have a “testamentary function”: when a person disappears, his assets can be distributed over accounts designated according to determined proportions. Regulatory executives should also authorize minors to open accounts (their trading activities can be limited, but they should be authorized to receive funds).
A capacity proposal to appease many Crypto investorsanxious to transmit their cryptocurrencies in the case of a death. But this apparently fairly simple procedure could quickly come into conflict with local regulations in the field. Because the taxman will certainly remember the good memories of the beneficiaries.
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Source: Changpeng Zhao
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Passionate about cryptocurrencies and the principle of decentralization for many years, I want to share this experience with the greatest number. I also focus on deciphering the issues associated with the evolution of this ecosystem within traditional finance.
