Changpeng “CZ” Zhao, the founder of Binance, urged cryptocurrency platforms to implement a 'will function' that allows users to allocate their digital assets posthumously. He emphasized the inevitability of death and the need for mechanisms to ensure assets are distributed to designated beneficiaries. This appeal coincides with Binance's recent update, which introduced an emergency contact and inheritance feature, enabling users to name heirs who can claim their crypto assets if they pass away. The update also allows for notifying an emergency contact after a period of inactivity, facilitating inheritance claims. Users have praised this initiative, noting that over $1 billion in crypto assets remain unclaimed annually due to sudden deaths. However, some expressed concerns about the feature's limitations, advocating for the transfer of entire accounts, including intangible assets. Legal experts stress the importance of incorporating crypto into estate planning, as many investors, particularly those aged 27 to 42, often overlook end-of-life financial arrangements. Read more AI-generated news on: https://app.chaingpt.org/news

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