Crypto Frontline

What Traders Think about Crypto Regulation?

What Traders Think about Crypto Regulation?

What Traders Think about Crypto Regulation?
May 25
06:20 2018

There had been a huge debate on cryptocurrency regulation and rightfully so, people are asking themselves whether that could have a positive impact on the market. It is hard to anticipate what will happen with the market after the regulation will be in play, but until then we want to discuss about what traders and other experts in the field think about regulating cryptocurrencies.

Traders are optimistic about crypto regulation

In an interview on CNBC, crypto trader Ran Neu-Ner mentioned that “When regulators come out with regulation, it’s going to open the floodgates for new money to come into crypto” and also he said that regulation is a positive thing, being able to contribute to the development of the industry.

Regulation will definitely come with bad consequences for those companies that conduct fraudulent activities. We’ve recently pasted a new milestone since currently there are 2,001 cryptocurrencies in the market. A huge number and after there will be regulation in play, there will be crackdowns, as Ran Neu-Ner had stated. The presence of scam companies creates a bad image for the overall industry.

In the US, authorities had been very active in this respect. Recently, the US Department of Justice had launched an investigation related to price manipulation of Bitcoin and other cryptocurrencies. This is part of a larger regulatory scrutiny and also, it is the main reason why Bitcoin and the other Altcoins had been heavily under pressure. Bitcoin is down more than 20% in just two weeks. Ethereum had been also under pressure, losing around 25% of its value in the same period.

The US active in terms of crypto regulation

There had also been an SEC probe, which had put the price of Ethereum under pressure. The fake ICO website, howeycoins.com is another step taken by the SEC, which is aimed at helping investors to learn some of the basic characteristics of a scam ICO.

Also, there is the Crypto Sweep operation that started in May 2018, which is conducted by a series of countries in North America. The project had already targeted 70 companies and it will further examine their activities.

Overall, we can say that honest companies can only be happy with the latest developments. We expect to see what changes will occur, and also, how the price of cryptocurrencies will be impacted as a result of regulation.