A Look at the Enforcement Measures to Institutionalize Blockchain Exchanges
By Luke Flowers – Cryptocurrency Broker
Digital asset markets are confronted with a range of international laws, but which are the most appropriate for the current cryptocurrency landscape?
Due to legal ambiguity from the U.S Securities and Exchange Commission and a host of state license standards, the growth of cryptocurrency trading in the U.S remains trapped. Limited and reserved for ‘Bitcoin Over the Counter Bulletin Board’ concerns, some see the future of American markets as uncertain territory.
To maintain the stable development of cryptocurrency markets, it is essential to expand the market share to institutional trading and large Bitcoin purchases. This approach is an effective business model for digital asset markets, as it would encourage U.S authorities to move sooner. Digital asset markets should recognize that stronger regulation could draw more investor competition and that coordinating with a set of controlled regulatory guidance is the necessary starting point.
With this in mind, the next step is implementation. Again, there is no need to reinvent the wheel — the current legislation offers guidance that can be migrated over to the digital asset sector. An avid example can be Bermuda, who act willingly as a regulator and welcomed digital assets by removing regulatory ambiguity. Wyoming, another state who many believe host some of the most advanced digital asset regulatory structures in the U.S, also modeled their own cryptocurrency ecosystem on Bermuda's legislation.
Adequate client disclosures are required to enforce effective and transparent controls. The client disclosure policies of Bermuda and the virtual currency laws of New York are some of the clearest guidelines. With trusted Bitcoin brokers common in the U.S, when addressing market integrity, particularly U.S jurisdiction, Cboe Futures Exchange's "Rulebook" is thought of as a well-composed resource. Digital asset markets need to seize the bull by the horns and continue to crack the regulatory log jam.
BC Bitcoin remain up to date and complies with UK legislation. We can answer any questions you may have and are always on hand to assist. You can Buy and Sell cryptocurrency on our platform, or simply pick up the phone to get in touch with a member of our team.