European cryptocurrency exchanges call for transparent regulations
Demand for regulation in cryptocurrency space is the need of the hour. Government bodies, financial institutions and other intermediaries like brokers have pitched for regulation to ensure transparency and legality. Some of the big names in European cryptocurrency market have joined the bandwagon in raising decibels for clarity in regulation.
The brokers have advocated stringent Know Your Customer requirements so that cryptocurrencies gain acceptability among institutional investors. Moreover, it would lend credence to digital currencies and mitigate risks of fraud and other illegal activities.
— Bitpanda (@bitpanda) May 8, 2018
eToro Europe Ltd. and Vienna-based Bitpanda GmbH, are the biggest players in the European cryptocurrency market. eToro allows trade and investment in top cryptocurrencies, ETFs and thousands of stocks. Trade currency pairs, Indices, and commodities. In an interview to Bloomberg, Bitpanda CEO Eric Demuth gave a thumbs up to plans for greater regulation, saying he would “be happy to have regulations, so we know where we stand.”
By summer of 2018, we might get to see some action in cryptocurrency regulation.
World Governments Target Summer 2018 To Regulate Cryptocurrencies https://t.co/vt1d7OpKD6
— The Merkle (@themerklenews) May 9, 2018
“The benefits of regulation are clear. An appropriate framework would serve to both protect consumers, and ensure the longevity and legitimacy of the industry itself,”said Iqbal Gandham, managing director of eToro in the UK.
Image via Europa EU