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Survey Finds That 88% of Crypto Exchanges Are Crying Out for Regulation

Article by Rick D. 

A survey conducted by crypto-friendly payment company Mistertango has found that almost 9 out of 10 digital currency exchange platforms want to see the industry regulated. However, there are also some fears that said regulation could stifle crypto innovation.

Cryptocurrency Companies Crave the Stability that Regulation can Create
 

The survey conducted by Mistertango targeted 24 different cryptocurrency exchanges from around the world. These included platforms based in Europe, Asia, South America, and Australia. Each of the participants has a trading volume of over $100 million per day.

The goal of the survey was to get a feeling for exchange’s attitudes towards regulation and how to move forward to a more mature cryptocurrency market. Some of the most interesting findings of the study are listed below:

  • 88% of digital asset exchange platforms are in favour of regulation
  • A market crash represents the largest threat to the current crypto market according to 30% of respondents
  • 40% believe that more mainstream acceptance can be achieved if banks reduce the imposed barriers to crypto activity
  • Over half of those responding said that users of crypto should adhere to KYC and AML checks like those using traditional banking services do
  • 17% of Mistertango’s clients believe that too aggressive regulation represents the largest threat to the future of crypto.

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