Reguated cryptoexchanges

[Leokey]

Cryptosphere is not well regulated yet. Do you know any cryptoexchanges which works under any legislation?
Or at least are there any steps towards this regulation?

[Lancusters]

There are no common steps to regulate the activities of crypto-exchange. But there is an attempt to control exchanges that work with Fiat. They are forced to cooperate with KYC. Perhaps this is an attempt by banks to take control of all the resources that work with the exchange of cryptocurrency. The next step will be taken by the tax authorities. As it was in the situation with coinbase.

[KorakPawon]

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[avikz]

Cryptosphere is not well regulated yet. Do you know any cryptoexchanges which works under any legislation?
Or at least are there any steps towards this regulation?

There are Japanese exchanges in the market that are licensed and regulated under the regulating authority of Japan. But I am not sure about any other exchanges which are actively regulated by any government regulatory authority. Majority of the exchanges are registered but that certainly doesn't mean regulated.

However, recently SEC has floated out a circular which says every Cryptocurrency exchanges must be registered and regulated as per their regulatory norms if they want to conduct business from their country. Check the link below,

https://www.cnbc.com/2018/03/07/bitcoin-just-tanked-below-10000-after-sec-says-crypto-exchanges-must-register-with-agency.html

So probably we will see more regulated crypto exchanges in future once this circular comes into force.

[stomachgrowls]

Cryptosphere is not well regulated yet. Do you know any cryptoexchanges which works under any legislation?
Or at least are there any steps towards this regulation?

There are Japanese exchanges in the market that are licensed and regulated under the regulating authority of Japan. But I am not sure about any other exchanges which are actively regulated by any government regulatory authority. Majority of the exchanges are registered but that certainly doesn't mean regulated.

However, recently SEC has floated out a circular which says every Cryptocurrency exchanges must be registered and regulated as per their regulatory norms if they want to conduct business from their country. Check the link below,

https://www.cnbc.com/2018/03/07/bitcoin-just-tanked-below-10000-after-sec-says-crypto-exchanges-must-register-with-agency.html

So probably we will see more regulated crypto exchanges in future once this circular comes into force.

This is somehow anticipated and expected to happen soon on where we do see exchangers is already regulated once decision is being rolled out and being considered to be implemented.I cant even point out if those existing exchangers are regulated or not but for sure they are really registered because this is a business and even on traditional ones you would need to comply documentations for such operation. The level of restriction might be different though.

[BitHodler]

I know that the following exchanges are regulated/licensed ~

Bitstamp.
Gemini.
Coinbase.
GDAX.

There might be more (aside from Asian exchanges), but I'm not aware of them, so if anyone here can name other western exchanges, then please do. I know for a fact that regulated/licensed exchanges are part of a minority.

The far majority of the exchanges break laws because of their activities matching that of a money transmitter, which requires licenses. Bitfinex for years has been refusing to get themselves licensed, scums that they are.

It's not for nothing that they last year decided to stop accepting US registrants. It will lower their risk of getting themselves busted by the FBI, which can still happen by the way. It's not that it grants them any safety.

[Kumic]

Regulating exchanges means giving insurance to users and that is a good thing.
I guess there is certain control of those same exchanges too which is also good at some point, but also bad.

[CryptoBry]

There is a need to regulated exchanges all because these people behind these firms are not saints and if there would not strong policy in place there is a great chance that they will abuse the platform or work something that will benefit them only. The reality is that as long s we are all humans, there is always that tendency to commit mistakes either accidental or intentional. In many cases, the investing people will be bearing the burden once something will go wrong.

This is why it would be good to see exchanges subjected to some form of regulations for the very reason of protecting the people who are using the exchanges and they can run after the platform once something can go wrong. In this case, if anyone wanted to get into regulated exchanges, those which are based in USA are much better on this aspect. In return, all re required to follow the KYC procedures but if one is not hiding anything or not afraid of being known then this is fine otherwise non-USA exchanges can be the preferred choice.

[Basmic]

Regulating exchanges means giving insurance to users and that is a good thing.
I guess there is certain control of those same exchanges too which is also good at some point, but also bad.

I don't see anything good. Under the pretext of the fight against money laundering and the fight against corruption, the bankers gradually gain control over users of the cryptocurrency. I have a question. Why then it was necessary to create cryptocurrencies? Maybe this is the main reason that the bitcoin rate began to fall? People lose interest in this asset. The main advantage is anonymity and decentralization.