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Hoxysado
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November 27, 2018, 02:12:57 PM |
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Some exchanges do not offer FIAT pairs.
Is that due to regulations or for their own safety to not involve physical money?
inmmy opinion they just do jot want to combine those two systems as it is really difficult to find a balance and to please everybody |
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Hoxysado
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November 27, 2018, 02:13:56 PM |
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I think that in most of cases is because of regulations and more control from financial authorities, so that only main and big exchanges allows FIAT pairs with USD and EUR
yes i think so as it is hard to organise such difficult opeartions an it requires a lot and not all companies are ready for this |
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cepot9
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Cryptocurrency addict | Invest at your own risk.
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November 27, 2018, 02:21:37 PM |
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If they offer FIAT pairs they have to do KYC and respect a ton of government regulations regarding personal information, money laundering, etc. I have no idea what regulations exactly they have to deal with, but I can imagine how complex this matter is. For example, not so long ago Coinbase was asked to provide their client's private info to the IRS. Among the other things and to avoid similar problems, some exchanges don't do fiat pairs. Binance is a good example.
right we have to do kyc, because in my country there are some local exchanges that are quite popular and we can buy crypto directly using fiat money and also can sell crypto in this fiat pretty good for the current situation. keep in mind all that happens is our own risk that is one of the rules |
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andrejka
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MOBU - FUTURE OF SECURITY TOKENS
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November 27, 2018, 05:08:58 PM |
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Some exchanges do not offer FIAT pairs.
Is that due to regulations or for their own safety to not involve physical money?
Absolutely right! The main reason is regulation. Because when you are using such coins like USDT or similar it it 100% crypto and can't be undergone any regulation etc. But when you add fiat pairs than well-known government organization can come to you and freeze your activity or even close the exchange if they don't like anything. That's why KYC is a must for such exchanges as well. |
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Adunni6758
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November 27, 2018, 08:39:28 PM |
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Some exchanges do not offer FIAT pairs.
Is that due to regulations or for their own safety to not involve physical money?
Fiats most times are introduced on exchanges, because of regulations and this will definite in turn help to bring about stability in prices. Most times, whales use it to their advantage and those who are not whales, but understand its importance. Then on any exchange such is used, any registered member of such exchange, must pass kyc and sometimes,it might be strict process. |
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kutangterbang
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November 27, 2018, 10:29:11 PM |
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no, but if FIAT is too deeply involved, it will result in diplomacy between crypto and the government, maybe that is avoided by decentralized exchanges
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Lagduf
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November 27, 2018, 10:31:19 PM |
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It's the regulation that matters the most, most of the exchanges is accepting stablecoin that's tied with fiat and it's basically the same anyway.
However, I can rarely find someone who can pass the regulation on withdrawing their money to fiat, in this case for example, if the fiat is USD then it must be an american citizen who withdraw the money.
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Yamifoud
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November 27, 2018, 10:37:31 PM |
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no, but if FIAT is too deeply involved, it will result in diplomacy between crypto and the government, maybe that is avoided by decentralized exchanges
It for sure government will push to all crypto holder's to pay taxes. Including fiat pairs is important also since not all areas that cryptocurrencies are not acceptable in the market. And with that, we can easily echange it directly to fiat without using any third party exchange. |
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coinfinger
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November 30, 2018, 05:34:44 AM |
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Some exchanges do not offer FIAT pairs.
Is that due to regulations or for their own safety to not involve physical money?
Regulations are the reason why some exchanges offer tether and stuff like that. Now there is a new one called USDC which is basically run by circle (the C there means coin as far as I know so not USD Circle but USD Coin) and they are owned by a large wall street bank. Now the difference between all these tokens and fiat itself is that if you use a tether at the very least you do not need to deal with any bank at all. The exchange can deal with a bank (they are making so much money and spending so much after all) but that doesn't mean they can't be really offering bank payments to you, not all banks work with banks all over the world and the ones that does that require a lot of money in return. Hence they give you tokens instead of fiat and they won't have to deal with withdrawals in fiat. |
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Kryten12
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TREEBLOCK
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November 30, 2018, 05:49:40 AM |
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They need to follow local regulations for the jurisdiction they have set up in. DX exchange will be offering FIAT pairs for all the tokens listing on their exchange I have recently set up an account there. Governments are paranoid about money laundering hence why things are still tricky to do right now.
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oper802
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Decentralized Digital Billboards
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December 04, 2018, 11:16:34 PM |
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If they offer FIAT pairs they have to do KYC and respect a ton of government regulations regarding personal information, money laundering, etc. I have no idea what regulations exactly they have to deal with, but I can imagine how complex this matter is. For example, not so long ago Coinbase was asked to provide their client's private info to the IRS. Among the other things and to avoid similar problems, some exchanges don't do fiat pairs. Binance is a good example.
I think so, it's about the regulations. There will be many regulations that must be obeyed, and everything that related to the government will be very complicated. So that's why fiat is not used in some exchanges. |
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organelles
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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
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December 17, 2018, 08:37:03 PM |
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Some exchanges do not offer FIAT pairs.
Is that due to regulations or for their own safety to not involve physical money?
Sometimes the exchanges do not have the physical money that has to convert into fiat for them to be able to offer the fiat crypto pairs, it is better to just make sure that they are not offering fiat instead of offering it and not being able to meet up with the kind of demand that they get. So I would say they doit for their own safety. |
﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏ ☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆ ≈ WORLD POWER PRODUCTION ≈ █ █ █ |
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Bokile
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December 17, 2018, 08:53:47 PM |
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To offer fiat pairs, deposits and withdrawals, exchanges need to reach an agreement with a bank, and it seems there are not many banks willing to offer this service right now. On the other hand, exchanges have realized is more comfortable for them to offer stablecoins pairs since, for some reason, users believe they are really backed by real money.
Are you sure that stablecoins aren't backed by a real money? I'm not saying that all stablecoins are backed by fiat, but I think at least some of them are. There was some kind of audit, if I remember correctly. Here is a news about that https://u.today/circles-usdc-stablecoin-successfully-passed-its-audit |
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dizzy1996
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MoonDeFi
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December 17, 2018, 08:55:34 PM |
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In my opinion, to enter the exchange of fiat pairs on the stock exchange, it is necessary to ensure a certain capitalization, as well as the relevant documents and licenses, but most exchanges cannot afford it and this is why such questions arise
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