Binance has updated the cryptocurrency legacy feature. CZ is confident that other platforms should follow suit.

According to some estimates, $1 billion in digital assets is transferred annually to exchanges, whose owners have died or lost access to their accounts.

Changpeng Zhao said that this sensitive issue requires attention. Binance has updated the inheritance policy and feature, giving relatives the opportunity to claim digital assets by providing basic information about family ties or the death certificate of the account holder.

Each platform should implement such a feature so that when you are gone, the exchange automatically distributes the cryptocurrency to the appropriate accounts in the correct proportion.

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