Educate me please, what are the negative possibilities on what CZ has been doing lately?
There are many. Look first of all at Binance's approach to their customers' data and privacy:Quote from: https://www.binance.com/en/terms
Your Personal Data will be protected and kept confidential, but subject to the provisions of any applicable law, your Personal Data may, depending on the products or services concerned, be disclosed to the following third parties:
(i)transaction counterparties;
(ii) other divisions or entities within Binance Holdings Ltd and our affiliates;
(iii) our joint venture/ alliance partners and business partners;
(iv) our agents, contractors, vendors, third party service providers and specialist advisers who have been contracted to provide us with administrative, financial, research, operational, IT or other services, such as telecommunications, information technology, payment, payroll, processing, training, market research, storage and archival;
(v) any third party business partners who offer goods and services or sponsor contests or other promotional programmes, whether in conjunction with us or not;
(vi) insurers or insurance investigators and credit providers;
(vii) the Credit Bureau, or in the event of default or disputes, any debt collection agencies or dispute resolution centres;
(viii) any business partner, investor, assignee or transferee (actual or prospective) to facilitate business asset transactions (which may extend to any merger, acquisition or asset sale) involving the Binance group;
(ix) our professional advisors such as our auditors and lawyers;
(x) relevant government regulators or authority or law enforcement agency to comply with any laws or rules and regulations imposed by any governmental authority;
(xi) anyone to whom we transfer or may transfer our rights and obligations;
(xii) banks, credit card companies and their respective service providers; and
(xiii) any other party as may be consented to by you, as specified by that individual or in the applicable contract.
(i)transaction counterparties;
(ii) other divisions or entities within Binance Holdings Ltd and our affiliates;
(iii) our joint venture/ alliance partners and business partners;
(iv) our agents, contractors, vendors, third party service providers and specialist advisers who have been contracted to provide us with administrative, financial, research, operational, IT or other services, such as telecommunications, information technology, payment, payroll, processing, training, market research, storage and archival;
(v) any third party business partners who offer goods and services or sponsor contests or other promotional programmes, whether in conjunction with us or not;
(vi) insurers or insurance investigators and credit providers;
(vii) the Credit Bureau, or in the event of default or disputes, any debt collection agencies or dispute resolution centres;
(viii) any business partner, investor, assignee or transferee (actual or prospective) to facilitate business asset transactions (which may extend to any merger, acquisition or asset sale) involving the Binance group;
(ix) our professional advisors such as our auditors and lawyers;
(x) relevant government regulators or authority or law enforcement agency to comply with any laws or rules and regulations imposed by any governmental authority;
(xi) anyone to whom we transfer or may transfer our rights and obligations;
(xii) banks, credit card companies and their respective service providers; and
(xiii) any other party as may be consented to by you, as specified by that individual or in the applicable contract.
I'm struggling to think of a single entity which isn't covered by that list.
Binance aren't just holding your personal information from KYC and tying it to all your trades and holdings, but now they will be tying it to which pages you view and which links you click on at Coinmarketcap, they'll link your IP to any miners running in their pool, they'll monitor all your real world purchases you make with their new debit card, they will likely even be tracking your web browsing through their new Brave "partnership". And with that information, they will quite happily share it or sell it with anyone they damn well please, including the government and other authorities. They are turning themselves in to the Google or Facebook or crypto. Sure, your trading fees are valuable to them, but your data is just as valuable on the open market. Binance are turning themselves from a simple exchange in to a data harvesting company, and that is concerning.
Well, as long as It's not illegally divulge then I am okay with it, I'm sure everyone understands everything before they sign up with Binance.
But then maybe as the crypto progresses, government will have to carefully check the TOS or the rules of an exchange if they comply with the standard, in short the government has to make a standard rules for regulating crypto exchanges or businesses.
