• Polls of 56 specialists in the fintech and cryptocurrency industry show that crypto exchanges will be regulated by 2025 or 2030, with 76% expecting them to be treated similarly to traditional financial institutions.
• 87% of Finder’s panelists believe that exchanges must disclose proof-of-reserves audits and liability records.
• 15% of Finder’s panel does not believe crypto exchanges should be regulated like traditional finance platforms, while 42% believes the industry will weather the storm without regulation.
Experts Predict Future Regulation Of Crypto Exchanges By 2025
Finder.com recently released a report on bitcoin and ethereum predictions after polling 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. 76% of Finder’s panelists expect these trading platforms to be treated similarly to traditional financial institutions when regulations do occur.
Proof-Of-Reserves Audits & Liability Records
87% of Finder’s Fintech and Crypto Experts believe that crypto exchanges must disclose proof-of-reserves audits and liability records when they are eventually regulated. This is an important step for ensuring investor safety in virtual currency trading platforms once regulations are put into place.
Split Views On Crypto Regulation
When it comes to how crypto exchanges should be regulated, there is a split opinion among Finder’s panelists: 15% don’t believe they should follow traditional finance regulations, while 42% think the industry can weather the storm without any particular set of regulations being enforced on them.
Regulation By 2024?
Cryptoconsultz CEO Nicole DeCicco predicts that standard regulations for crypto exchanges will occur by 2024 even though she doesn’t believe they should necessarily follow traditional finance protocols when this happens: „At Cryptoconsultz we teach our clients to think of cold storage and self-custody solutions as their bank account and centralized exchanges similar to the money one might pull out of an ATM and walk around with in their pocket,“ she said in a statement.
The experts polled by finder.com agree on one thing: regulation for crypto exchanges is coming soon, although opinions differ on how exactly it should look like or when it should happen (2024 or 2025). To ensure investor safety, 87% suggest that these trading platforms need to provide proof-of-reserves audits and liability records before becoming operational under new rules.