Amid crypto's Wild West, Binance says a sheriff is needed

The call for regulation might seem strange for an industry whose popularity exploded in some part precisely because it sought to operate outside the heavy hand of governments and other authorities. — AP

NEW YORK: The cryptocurrency market gets likened to the Wild West by critics, and now a key player is asking for sheriffs to come to town.

Binance, the world’s largest exchange for trading Bitcoin and other cryptocurrencies, says it’s time for global regulators to establish rules for crypto markets. It released a list of "10 fundamental rights for crypto users” this week that it wants to guide discussions with regulators, policymakers and other exchanges.