An overwhelming majority of cryptocurrency exchanges want cohesive and comprehensive regulation, and don't see overly strict oversight as the biggest threat to the industry, according to a new survey.
Almost nine out of 10 exchanges, 88%, said they want industry regulation, according to a survey by Mistertango, a crypto-friendly payment company.
More specifically, more than half, 55%, said exchange customers should be subject to know your customer, KYC, and anti-money laundering ID checks, which are standard elsewhere in the financial services industry.
The survey covered two dozen exchanges around the world with daily trading volume of at least $100 million.
Less than two out of 10, 17%, said overly strict legislation is the biggest threat to the industry.
Instead, more of those surveyed, 30%, said a crypto crash posed the biggest threat.
Regulation will be a catalyst, not an inhibitor, to the crypto market's maturation, according to the survey.