The largest players in the market believe that regulation stabilizes the industry and contributes to the growth of bitcoin.
Control over the crypto-industry is strengthened both at the level of regulators, and at the level of corporations. In particular, last week it became known that in the framework of the new policy, Facebook banned the advertising of crypto and ICO, and recently the Canadian regulator held talks with Google, calling for the same measures.
Since the beginning of the week, the bitcoin rate has fallen, approaching a record $ 6000 on Tuesday, but by Friday it rose 37% above this mark.
The first bitmoin millionaires, the founders of the Gemini exchange crypto exchange, the Winklewoss brothers believe that with the proper regulatory approach “will be a huge advantage for the crypto currency”: “Such technologies can not thrive and develop without reasonable regulation that connects them with finance,” said Tyler Winklewoss in an interview with Bloomberg. He also noted the need for more stringent measures against fraudsters, including ICO-scams.
The brothers, each of whom, according to the Bloomberg Billionaire Index, are valued at $ 520 million, do not join the general panic: “We are here for a long time – for a decade or more. We remember that bitcoin cost $ 8. So, as far as we know, everything is in order. ”
Regarding the recent decision of Facebook, the consultant of crypto-startups, the founder of the consulting group on the block-theme Ethmint Kyle Forki, spoke positively. According to him, legal business will not suffer from Facebook innovations, since “most of the funds raised during the ICO are attracted through partnerships.”
Many participants of the Yahoo Finance crypt-summit also reported on the support of the regulations. GDAX CEO Adam White said that the Coinbase and GDAX exchanges “welcome regulation” and realize that they “have a positive effect on the financial system”.
CEO Ripple Brad Garlinghouse noted that his company has long been conducive to regulation and it is necessary because “the revolution is not going on outside the system – it is happening inside”.
Author: Sara Bauer