Binance Founder Suggests Implementing Cryptocurrency Inheritance Mechanism
Date: 2025-06-20 Author: Gabriel Deangelo Categories: BUSINESS
Binance CEO Changpeng Zhao has proposed that crypto exchanges introduce a will function for digital assets. In his opinion, each user should be able to determine in advance to whom and in what proportion their funds will be transferred in the event of death or inability to manage an account.
In his post on the X social network, Zhao noted that this issue is often ignored, but no one is immune from unforeseen situations. Therefore, each platform should offer its clients tools for managing cryptocurrency after their death, so that assets are automatically transferred to the designated heirs.
The idea gained support after the Binance update released on June 12. The new version of the platform introduced the “emergency contact and inheritance” option. Users can now specify a trusted person who, in the event of prolonged inactivity of the account, will receive a notification and will be able to apply for access to the owner’s cryptocurrency funds.
The panelists emphasized that this feature is an important step toward solving one of the industry's major problems. Every year, over a billion dollars' worth of assets remain abandoned on the crypto market, unable to be returned to their owners. In addition, experts noted that in the Web3 sphere, it is necessary to ensure not only the transfer of tokens, but also digital heritage in a broader sense - for example, accounts, created content, and influence in communities.
The discussion brought to the forefront the issue that cryptocurrencies and related digital resources are becoming an increasingly important part of personal property, and their proper inheritance requires new technical solutions and a legal framework.
Thus, the introduction of a will mechanism in crypto platforms can become an industry standard that will help users protect their assets and transfer them to their intended purpose even in the event of unforeseen circumstances. According to Changpeng Zhao and many experts, this will increase trust in digital financial instruments and improve their usability.
