TL;DR Breakdown
- eToro platform predicts more regulations to protect cryptocurrency investments
- The eToro CEO claims that the crypto market is rising, and regulators must impose new rules.
eToro CEO hopes that regulators will impose and implement new rules to protect Bitcoin and other cryptocurrency investors. eToro is a fast-growing online platform dedicated to trading derivatives, stocks, and cryptocurrencies,
Yoni Assia said they see a significant increase in interest from traders and retail investors in the crypto market. These comments represent a clear recognition sign within the crypto industry. Regulators must be ready to act in specific sectors where the police were initially late.
eToro and new crypto regulations
Assia also added that regulators must learn more about cryptocurrencies as the new rules are established. For regulators, the most important thing is to understand the crypto world and understand that virtual currencies will stay here.
Assia is Robin Hood Israel Foundation’s owner, named after another fast-growing business platform that has attracted a new generation of retail investors to America. But about 70 percent of the eToro users are in Europe. Thanks to an alliance with a particular purpose acquisition company (Spac), it will be launched in the USA in the coming weeks, but only on 9 percent of the users.
They have offered direct stock trading, but digital currency and copy trading services still exist.
The eToro CEO predicts more regulation. Bitcoin and the other digital currencies have grown this year, and their value has soared to $1.5 trillion. This happens amid extreme price volatility and increasing use in illegal activities such as fraud and laundering of money.
Authorities have put regulations on cryptocurrencies
This week, the UK Financial Authority has banned Binance, the world’s most popular exchange platform, offering crypto-asset exchanges and other regulated services in the UK.
Financial authorities in the United States are also poised to play a more critical and active role in regulating the crypto market. Assia has said that they want to communicate all the investment risks in these high-risk assets.
For Assia, an asset that has risen as much as 100 percent may also fall by 50 percent. If an asset can increase 1,000 percent, it is very volatile. It should be understood as part of the portfolio allocation.
eToro is a platform founded in 2007, and since 2013, it has been offering Bitcoin trading. A March regulations filing has stated that 16 percent of last year’s revenue was digital currencies.
The growth and popularity of the trading platform have seduced the younger generation to understand and learn how to invest.
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