In a move showcasing long-term vision and responsibility, Changpeng Zhao (CZ) – the founder of Binance – has called on cryptocurrency platforms to integrate a 'will feature', allowing users to designate beneficiaries for their digital assets after passing away. CZ also proposed that minors should be allowed to own accounts to receive inherited crypto assets.
🔐 Inheritance planning – an overlooked issue in the world of cryptocurrency
CZ emphasized that setting up a will or inheritance plan on a cold wallet or personal wallet is extremely difficult for average users. Most users do not know how to safely share their private keys. Without a clear system, assets may be locked permanently, and families cannot access them after their loved ones pass away.
“Every platform should have a will feature – allowing the distribution of assets to designated accounts, according to specific ratios that users desire.” – CZ wrote on social media X.
He proposed building a simple tool for users to designate heirs and the proportion of assets they will receive, making the inheritance process easier, safer, and more accessible, preventing crypto assets from being permanently lost due to lack of planning.
💬 The community responds positively but still has concerns
Many support this idea, saying it 'should have been implemented long ago':
@Ranofty: “Great idea! Planning for loved ones is essential.”
@Tabraiz: “CZ is truly responsible and visionary. Every crypto player should take asset planning seriously.”
However, some people also express concerns:
@diamondhandjs: “Minors should not be allowed to access crypto, even as beneficiaries. It's like putting them in a gambling environment.”
@lfp8023 questions the authenticity: “How does the platform know you are actually dead?”
@Predator_fund warns: “Without a clear inheritance tool, the platform may hold users' assets forever.”
Additionally, @uniswap12 argues that crypto is not just money. 'My Binance account has social and digital value. The platform should allow the transfer of the entire account – including transaction history, NFTs, and social data.'
📊 Over $1 billion in crypto is lost each year because users... pass away
According to reports, over $1 billion worth of cryptocurrency is lost each year when users do not leave any access information or inheritance plans. Many families are unaware of the existence of these digital assets or do not know how to reclaim them.
✅ Binance officially implements the features 'Emergency Contact' and 'Asset Inheritance'
In response to CZ's call and real demand, Binance officially launched the asset inheritance feature on June 12, 2025.
This feature allows users to:
Designate an emergency contact
The system will send alerts via email/SMS if the account has been inactive for a long time.
The contact can request access if the user does not respond after a specified period.
📝 Inheritance request process
The emergency contact must:
Provide a death certificate.
Present a valid ID/passport.
Binance will conduct manual verification to ensure the request is accurate and not abused.
Currently, the system supports Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), with plans to expand to more asset types in the future.
🧠 Conclusion
CZ's proposal and Binance's new step show that the cryptocurrency industry is gradually maturing and beginning to address legal, social, and humanitarian issues. Planning for digital asset inheritance is no longer a distant concern but an essential part of modern financial management. If you are investing in crypto – don’t wait, start planning to protect your assets for your loved ones today.
