Does Crypto-Sphere Need More Rules?

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Some say that regulations are needed to bring in more institutional investors. Some say that regulations go against the idea behind cryptocurrency. And there are plenty of arguments to support either side.

The Winklevoss twins are pretty clear about their point of view on the subject. Multiple ads from Gemini, the cryptocurrency exchange brothers founded, with a slogan “crypto needs rules” were placed on New York taxis, bus stops and subway.

“We believe that investors coming into cryptocurrency deserve the exact same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols.” – Chris Roan, Gemini’s head of marketing.

Other slogans are present too: “money has a future” and “crypto without chaos” can also be seen.

We applaud (nearly) any form of bringing cryptocurrency closer to people, as we see any crypto-related news in the mainstream as adoption-boosting. There are, however, those who aren’t so positive towards the Gemini ads. A Twitter user, Nick Foley (@BookofNick), twitted that “KYC AML licencing taxation Patriot Act bitlicense bullshit?” No. Crypto doesn’t need that”.

The main point of the ads is to position Gemini as a regulatory compliant exchange for investors. And we’re happy with that – the more investors hop onto the crypto-train, the better for everyone and especially – for overall adoption.

 

Images by Shutterstock.com

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