Another misleading article... Exchanges should be more regulated and should follow up the rules of security and other things.
You can't expect people to trade on some shady exchange where there is high possibility of losing funds. After the NEM hack they are slowly seeing how exchanges are badly secured. Honestly I agree with the fact for more regulation, even some people will like the idea of exchanges filling the standards provided by their country and might even think to invest into crypto if they feel safe.
People are already using shady exchanges, as the exchanges are not regulated yet, so there's a high risk that they will be scammed. On the other hand, the risk/reward ratio is still good enough for them to take this risk, because they can earn way much more money that they risk in the beginning. So people are accepting the risk of these shady exchanges but if the exchanges will be regulated, it will be better from the point of view of the scam risk. Regulated exchanges will not have the benefit of the possible tax evasion, so I'm not 100% sure that all of the traders will be happy with the regualtions, although it will protect their money.
those people who don't want to pay taxes are already evading centralized exchanges anyways, regulations or no regulations have no effect on them.
so because of that regulations can only be a good thing for the whole cryptocurrency community. for example one of the things that bitcoin has been suffering the most has been the small size of the order books on exchanges so that a small dump crashes the market like what we are seeing these days.
a regulated exchange will attract a lot more customers and also people will feel much safer leaving their money on exchanges meaning
leaving them in open orders which will increase the size of the order book (it becomes more packed) so the same amount of dump won't crash the market as big anymore.
who doesn't want that?!!
