The first crypto-friendly payment company, Mistertango revealed that quite contrary to the generic percent, 88 percent of crypto exchanges are in favor of industry regulation. This statement was made based on the responses received from 24 crypto exchanges across Europe, Asia, Oceania, and South America, with total daily trading volumes of over $100 million USD.
The objective of this study was to assess the feelings of people towards anonymity, regulation, and the maturation of the crypto market. Majority of the surveyed respondents believed that regulation is certainly needed for the crypto industry to mature.
Key Findings Of The Survey: Mistertango
Listed below are some of the key findings of this survey:
- Around 88 percent of crypto exchanges are in favor of regulation.
- 17 percent of exchanges believed that overly stringent regulation is one of the biggest threats to the industry.
- 30 percent were of the opinion that the biggest threat to the market is a significant crypto crash.
- 40 percent respondents said reducing barriers to funding crypto activity by banks will improve acceptance.
- 55 percent were of the opinion that crypto users should be subject to KYC and anti-money laundering checks
Gabrielius, Business Manager, Mistertango, said in his statement that the crypto industry is quite keen on regulation. The response from partners has proven this he said. He further added that uncertainty is the biggest fear and regulation is important to offer the stability that’s required. He said that in order for cryptocurrencies to move towards the ubiquity and scale possessed by fiat currency, it needs comprehensive, cohesive, and considered regulation.
As reported in the FinExtra report, despite fears that lurk in the minds of crypto exchanges of being regulated with an iron fist, it is still considered by most of them as the solution to greater industry-wide threats.
CEO of CEX.IO, Oleksandr Lutskevych, said that till now it was widely assumed that crypto companies want to avoid a regulated environment. However, this is far from the truth he said. The industry is quite well aware that regulation will lead to the maturity of the cryptocurrency market, he said.
The post Mistertango Reveals 88 Percent Crypto Exchanges Want Regulation appeared first on OWLT Market.
from OWLT Market https://ift.tt/2vq17yO
via IFTTT
No comments:
Post a Comment