Crypto Regulation is Coming and All Exchanges Must Die

What is the Solution?

The secure and stable approach is called compliance-first.

- Advertisement -

It consists of building something from the ground-up with regulatory compliance as the first priority. Get permissions, licenses, and court decisions for your features first, and only then proceed implement them.

If regulations don’t currently exist, organize lobby groups and work with government to create the rules.

It is a long-term strategy and sacrifices some quick profit at the start for securing you position later when regulation kicks in and the rest of the platforms begin to implode.

Here is what the founder of one such platform taking the long road had to say about the situation:

Both the G7 and FATF, and every other major intergovernmental organization, are now pushing and pushing for more KYC and AML in crypto. The other market players will need to comply at some point. The problem is that while we will already have done it, they will have to go through databases of millions of users and clean them, which will cause major issues internally.

Think of the old fable about the hare and the tortoise. This happens all the time in regulated markets. It happens in pharmaceuticals, it happens in finance, it happens in telecommunications. When you lack the vision on the regulatory side, you end up losing.

— Kevin Murcko, CEO @ Coinmetro

Source

Previous Articles:

- Advertisement -

Latest

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Scottsdale Residents Lose $6M to Crypto Scams; Police Respond

Scottsdale residents have reported losing over $6 million to cryptocurrency Scams in 2024.Authorities say actual losses could be higher, as not all cases are...

Ethereum Bullish Patterns Signal Altseason, 55% Rally Possible

Ethereum is showing two bullish chart patterns against Bitcoin, indicating a possible 30–55% price increase. Crypto analysts say an ETH/BTC rally could spark a broad...

Must Read

The 10 Best Crypto Podcasts You Can’t Miss

Table of ContentsBest Cryptocurrency Podcasts To Add To Your Playing List1. The Money Movement2. The Crypto Conversation3. The Pomp Podcast4. What Bitcoin Did5. The...