A recent survey from payment company Mistertango indicates that 88% of cryptocurrency exchanges want regulatory standards for the industry, with 55% in favor of know-your-customer (KYC) policies and anti-money laundering checks on users.
So far, 2018 has seen poor gains compared with the latter half of 2017, while the fear of a market crash and major cryptocurrency devaluation is pushing exchanges servicing the industry in favor of regulations. Some 30% of the survey’s respondents cited a significant crash as the biggest threat facing the market.
While 88% of the exchanges did want regulatory overcite over their own activities, 40% said that actually reducing bank-enforced barriers over cryptocurrency funded accounts would help improve the overall acceptance of the industry; it would certainly make it easier for more people to enter the market.
However, 17% of the exchanges see strict regulations as the biggest threat to the industry, pointing to the need for the approach taken implementing the regulations to be well-informed and not overbearing. It is given the generally reported sentiment that the industry discourages regulations.
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