More calls to regulate the cryptocurrency market have emerged.
-Europe based Bitcoin brokers asked for regulation in the cryptocurrency market
-This aims to deny the allegations that digital coin brokers help criminals to transfer money
-This call also aims to clear the objectives of Bitcoin brokers
Digital coin market had arisen in 2009 and grew to 800 million dollars. Bitpanda’s chief executive officer, Eric Demuth expresses happiness for having regulations in the cryptocurrency market.
The objective of transparency seem ironic in cryptocurrency market. People from different countries have been purchasing Bitcoins without even showing their IDs.
Unfortunately, these people have using Bitcoins to purchase luxury goods. Regulations aim to prevent money laundering act that can arise from this digital technology
European Commission and regional supervisors consider applying European Union rules in cryptocurrency trading market. Germany’s BaFin has required extensive requirements of cryptocurrency operators
Some tax agencies in US and Spain have asked brokers to give names and other data on cryptocurrency clients.
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