August 01, 2018 1104By Nathan Bentley
- “88% of crypto exchanges want regulation.”
- “17% of crypto exchanges believe overly strict regulation is the biggest threat to the cryptocurrency.”
- “30% say the biggest threat to the market is a significant crypto crash.”
- “40% say reducing barriers to funding crypto activity by banks will improve acceptance.”
- “55% say crypto users should be subject to Know Your Customer & Anti-Money Laundering checks like those using traditional financial services.”
“The industry is crying out for regulation and the response from partners has shown this. Uncertainty is the biggest fear, and regulation is critical to provide the stability we need. Unfortunately, there is no regulatory consensus – worldwide or otherwise. For cryptocurrencies to move towards the scale and ubiquity possessed by fiat currency, it needs cohesive, considered and comprehensive regulation. Thus, regulation will be a catalyst, not an inhibitor to the crypto market’s development.”Of course, this doesn’t mean that a big market crash will happen, but I think it speaks volumes that out of 24 surveyed exchanges, 30% of them believe a huge crash is the biggest threat to the markets. Most importantly though, 88% of those surveyed want cryptocurrency regulations, regulations that will in turn protect themselves and their customers from such a crash.