- Regulatory issues send shockwaves across the cryptocurrency markets.
- The biggest digital assets broker in Austria support the regulatory initiatives.
Regulatory issues continue dominating the cryptocurrency universe. News from Japan and US crashed the digital assets last week as both regulators demonstrated tighter approach towards this new form of money.
While crypto traders are wary of regulators meddling with their decentralized world, many big market players, including the founder of Ripple, believe that in the longer-term is a good thing. Regulation will make the market safer for the broader public and attract institutional players.
"My POV on the SEC statement today - the market is having an outsized reaction. Exchanges ultimately have three options ahead of them: de-list ICOs, register, or close. Certainly big implications for ETH given ERC20 tokens" - Brad Garlinghouse wrote on his Twitter account.
Amid this sentiments, Bitpanda, the largest Austria’s broker of digital assets, comes up with an opinion that bitcoin shall be regulated like gold.
“Regulation provides us with more legitimacy. We’ve wanted to be regulated, but so far have been told that we cannot be” - Bitpanda co-Chief Executive Officer Eric Demuth, said in an interview.
Austria’s finance ministry aired the similar view, claiming that they are considering gold and derivatives standards as a reference for future crypto regulation.