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European brokers advocated the finalization of the crypto-currency regulation



Brokers are asked to adapt the rules to the features of the crypto-currency market.



08.May.18 9:45 PM
By Jeff Bannister
Photo Toinnov.com

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European brokers advocated the finalization of the crypto-currency regulation
Representatives of the two largest European platforms eToro and Bitpanda promoted compliance with the rules of KYC, but with some adjustments. European brokers urged financial regulators to develop for the market such laws that will take into account the characteristics of the crypto-currency sphere and help to dispel fears of money laundering through digital coins. This was reported by the publication bits.media.

Iqbal Gendhlem, General Director of the British eToro Exchange, said that the rules in force in the European Union severely restrict the activities of hedge funds because they do not take into account the specifics of the digital assets market. In some countries, the market remains unregulated, but traditional instruments sometimes harm the crypto-currencies.

He called for the improvement of regulatory tools following the example of Japan, which focused efforts on an interaction between exchanges and investors, while ensuring the legitimacy of the market.

Director of the Austrian Bitpanda platform Erik Demuth, in turn, noted that the company's representatives regularly meet with officials to discuss the rules, but believes some ideas are not the most successful. In his opinion, the current rules force brokers to move to more free markets, such as Malta.



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