With the cryptocurrency industry growing rapidly, regulatory agencies are stepping up to monitor the sector. While some jurisdictions are welcoming the new opportunities the industry brings, others are taking a more cautious approach. Fortunately, the major cryptocurrency exchanges and trading platforms are already well regulated and they will continue to be so in the future.
Cryptocurrency prices have been on a rollercoaster ride as of late, with the overall market taking a dive on May 17th. But that hasn’t stopped Bitfinex CEO, Dr. Noam Copel, from predicting that regulators will soon swoop in to regulate cryptocurrencies. He believes that regulators will start to move to regulate the crypto industry in order to combat fraud and illegal activity.
The eToro CEO recently addressed the future of crypto and its effect on both consumers and institutional investors. In a recent interview, the eToro CEO, Yoni Assia, expressed his belief that the growing popularity of crypto derivatives will lead to more regulations in the space.. Read more about is cryptocurrency legal and let us know what you think.Summary of the situation
- The eToro platform plans more regulation to protect cryptocurrency investments.
- The CEO of eToro says the cryptocurrency market is growing rapidly and regulators need to introduce new rules.
The CEO of eToro hopes regulators will introduce and implement new rules to protect investors in bitcoin and other cryptocurrencies. eToro is a fast-growing online platform for trading derivatives, stocks and cryptocurrencies,
Yoni Assia said they are seeing a significant increase in interest from traders and retail investors in the cryptocurrency market. These comments are a clear sign of recognition in the crypto-currency industry. Regulators must be prepared to act in areas where the police have been late.
eToro and the new regulations for crypto currencies
Assia also added that regulators need to learn more about cryptocurrencies as new rules are developed. The most important thing for regulators is to understand the world of cryptocurrencies and realize that virtual currencies are here to stay.
Assia is the owner of the Robin Hood Israel Foundation, named after another fast-growing business platform that has attracted a new generation of small investors in America. But about 70% of eToro’s users are in Europe. Thanks to an alliance with a special acquisition company (Spac), it will be introduced in the United States in the coming weeks, but only to 9% of users.
They used to offer direct stock trading, but digital currency and copy trading services still exist.
eToro’s CEO foresees stricter regulation. Bitcoin and other digital currencies have exploded this year, reaching a value of $1.5 trillion. This development takes place against a background of extreme price volatility and increasing use for illegal activities such as fraud and money laundering.
Authorities have introduced regulation of cryptocurrencies
This week, the UK Financial Services Authority banned Binance, the world’s most popular exchange platform, from offering crypto asset swaps and other regulated services in the UK.
The US financial authorities will also take a larger and more active role in regulating the cryptocurrency market. Assia said she wanted to state all the risks of investing in these risky assets.
For Assia, an asset that went up by 100% can also go down by 50%. If an asset can grow by 1,000%, it is highly volatile. It should be seen as part of the portfolio allocation.
eToro is a platform founded in 2007 that has been offering bitcoin trading since 2013. According to a March regulatory filing, 16 percent of last year’s revenue came from digital currencies.
The growth and popularity of the trading platform has inspired the younger generation to understand and learn how to invest.
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