Survey: Contrary To Perception, Most Crypto Exchanges Want Regulation

Aug 03, 2018

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.