Why Coinage Welcomes Regulation

Why Coinage Welcomes Regulation

From day one, the cryptocurrency conversation has been dominated by the topic of regulation. Should there be more? How much is too much? How will it work? Will crypto be around long enough for it to make a difference?

Now, with cryptocurrencies reaching new levels of popularity and acceptance, the question of how to tame the wild frontier of finance is once again gathering pace, with some of Europe’s largest cryptocurrency brokers voicing their support for more regulation across the industry.

Needless to say, as a company that’s focused 100% on creating the world’s best crypto experience, Coinage fully supports anything that will allow our users to trade and invest with a greater sense of confidence and security – including tighter industry-wide regulation.

From day one, it has been our mission to do all we can to demystify the often-complex world of cryptocurrency and greater, more stringent regulation, benchmarks or standards will go a long way to helping us and the wider crypto industry to achieve this. Ensuring the utmost transparency at all stages of our users’ Coinage journey is the first step on the journey to fostering trust and willingness among a potentially still sceptical public.

Likewise, accountability. If Coinage users are confident at every stage of a transaction, that their money is going where it is supposed to, is fully trackable and totally secure, the perception of crypto as a sort of lawless financial wild west will be a thing of the past. Any new regulation or laws that help enforce this will be key to raising levels of trust and strengthening the overall security and stability of the wider cryptocurrency space.

Of course, user data is also of vital importance and the need to guarantee its safety and proper use is at the forefront of the crypto regulation debate. At Coinage, not only is the handling of user data of paramount importance, we firmly believe that the entire future success of the industry as a whole depends upon it. With this in mind, we aim to be the first totally GDPR-compliant crypto exchange and wholeheartedly welcome any and all regulatory improvements that can keep this ultra-sensitive data safe and ensure its proper use.

Again, by setting in stone the rules and regulations that will guarantee this, trust and good faith in the industry as a whole can only strengthen and another of the few remaining barriers to crypto establishing itself as a true rival to more traditional trading and investment options will be removed.

If you found this article useful why not take a look at the other articles in our #CryptoEssentials series below. If you have any questions about anything crypto related, drop us a message via our social channels.

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