Study reveals: 88 percent of the world’s crypto exchanges want regulations

Study reveals: 88 percent of the world's crypto exchanges want regulations.

Image source: Shutterstock / Wikimedia Commons

Christian Ploog

christian.ploog@trijo.co

According to a new survey, the majority of the world's biggest cryptocurrency exchanges agree that industry regulation for the crypto market is needed.

A new survey shows that 88 percent of the world’s biggest cryptocurrency exchanges want to be regulated. The reason is, among other things, that they believe that regulations can help keep the crypto prices more stable and the market more secure, CCN writes.

The study, conducted by the Lithuanian crypto payment company Mistertango, has been based on responses from 24 different crypto exchanges around the world, who all have a daily trading volume of over $100 million.

“The industry is crying out for regulation, and the response from partners has shown this. Uncertainty is the biggest fear, and regulation is critical to provide the stability we need. Unfortunately, there is no regulatory consensus – worldwide or otherwise”, says Gabrielius Bilkštys, business manager at Mistertango, according to CCN.

“Regulation is critical to provide the stability we need”

However, some are afraid that too much regulation could break the market. 17 percent of the responding crypto exchanges in the survey state that “overly strict regulation is the biggest threat to the cryptocurrency”.

But the majority of crypto exchanges in the survey agreed that regulation is needed.

“For cryptocurrencies to move towards the scale and ubiquity possessed by fiat currency, it needs cohesive, considered and comprehensive regulation. Thus, regulation will be a catalyst, not an inhibitor to the crypto market development”, says Gabrielius Bilkštys, according to CCN.

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