HELLO FRIENDS,

image source

This study was based on responses to 24 crypto exchanges worldwide, in which the total daily trade volume was more than $ 100 million. Reactions show an industry that wants to be a part of the formal system, not the outside - unlike the public belief

Cryptocurrency Exchange Regulation

Studies show that 88% crypto exchanges want regulation because they believe that it can stabilize prices and create a level of certainty that the market is not experiencing for a while.

MrTterango Business Manager Gabrielius Bisttsis said that the market needs more regulation than ever before, because this stability will make the willingness of the essential level of investors.

"The industry is crying for regulation, and the reaction of the partners has shown this. Uncertainty is the biggest fear, and regulation is important to provide us the necessary stability. Unfortunately, there is no regulatory agreement worldwide or otherwise. To move towards scale and ubiquity near the Fiat currency, it is considered united, and requires extensive regulation.

Regulation can solve some hazards in the past in the market, but some fear that the hand can destroy a very heavy hand market too. Seventy percent of respondents said that they believe that "highly strict regulation is the biggest threat to cryptocurrency." We have seen scenarios where regulators were working hard on exchanges. It has become quite popular in Asia, where the trade has closed in the past, which has resulted in high price volatility.

CEX.IO CEO Olexander Lutskewich - one of the top crypto exchanges based on the market volume - believes that the market will be better mature when it is regulated.

he said:

"So far, the industry does not say it on regulation, it is widely believed that crypto companies want to avoid a regulated environment, but it is far from true. Industry knows that the reason for the regulatory market maturity And will ensure that business is free of suspicion of partnership with the use of cryptocourrency. "

BANKING

While anonymous - or in the case of most cryptocourrency, the pseudonym - one of the market's biggest attractions, 55% of respondents are keen to highlight customers on their platforms using KYC / AML checks, as Traditional financial services for free crypto from illegal financial use

Some respondents believe that when it comes to adoption of crypto, the banks hold the Aces. About 40% of the crypto exchanges in the study believe that "reducing the barriers to funding the crypto activity by banks will improve acceptance." This is one of the factors of adoption in South Korea, which is known as one of the largest markets for cryptocurrency business.

Shinhan Bank, the country's second largest bank, provides local exchanges with virtual bank accounts, which traders can use to withdraw and deposit without using their real bank account. Respondents believe that changes in banks' approach will have a huge impact on global acceptance of cryptocurrency, but it can only be achieved when the industry is controlled.