Specialists expect stronger regulation of the cryptovoltaic industry

09.11.2020
Despite the fact that regulators of different countries are beginning to regulate the cryptovrency industry a little bit, there have been no significant innovations so far. However, industry participants believe that this will change in the future;

«Crypt currency regulation has not changed much in the last few years. We have only seen stronger control over law enforcement and clearer guidelines from the regulators. I think fines and bans will continue to be imposed to allow companies and entrepreneurs to understand what can and cannot be done in the cryptovoltaic industry,» said Alex Wearn, co-founder and CEO of IDEX, a decentralized exchange;

Waves platform CEO Alexander Ivanov believes that industry regulation is still in its infancy. Although regulators are working more closely on some issues, for example, attention is paid to the regulation of state crypt currency and tax policy with respect to digital assets;

«Regulation will be one of the major topics in the cryptovoltaic industry in the coming years. It is only a matter of time before the industry is regulated in various countries. And the right position of regulators in this respect can help the development of the cryptocurrency space. Waves hopes to be at the forefront of this process, to participate in a dialogue between industry representatives and regulators and to help shape regulatory norms in the industry,» he said;

Recently it has become known that the Hong Kong Securities and Futures Commission (HKF) plans to introduce regulation of all cryptovite exchanges in the city, while the South Korean Financial Services Commission (FSC) prevented local trading floors from providing services related to anonymous cryptovite.

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