Marcus Hughes, Coinbase's executive executive, believes that the 2019 year will bring "Bitcoin regulations" around the world, particularly in Europe.
Hugs that predict positive results from the regulations
Speaking at Forbes, Chief Counsel of Coinbase, Bitcoin's main exchange and portfolio service, Marcus Hughes said regulatory frameworks will shape the future of Bitcoin. Noting the Bitcoin regulations around the world, he especially noticed Europe to see a big move in terms of cryptic regulations. Hughes said in an interview
"Within the next year or two, we will see major developments, and the regulation will take shape this year, particularly in Europe."
The encrypted regulations ring a fearsome bell for the enthusiasts of the crypts in the various countries. While the ban is not a favorable solution, many enthusiasts, analysts and companies expect the authorities to form favorable regulations that could encourage adoption and innovation. While Mr. Hughes thinks 2019 as the year of better regulations for Bitcoin and cryptocurrencies, the other renown personality of the encrypted market, & # 39; jalak jobanputra, founder of the Venture Capital Fund of New York, Future Perfect & # 39; he said that 2018 was the year of the regulations. He also urged that the 2019 year will be a better year for cryptocurrencies.
– CoinGape (@CoinGapeMedia) January 3, 2019
Crypto in European countries (E.U)
Mr. Hughes during an interview notes strongly that "Europe" sees a big move in terms of regulations. However, it is worth noting that the European Banking Authority (EBA) insists on "efficient crypt rules to safeguard investors through the blockade and at the same time approaching fair rules for cryptocurrency operations in European Unions.
"We could end up with member states that create their own crypto laws, but it's certainly possible to get a unified approach in Europe, which would make life easier for companies like Coinbase," Hughes said.
Furthermore, the dizzying rise in Bitcoin's price at the end of 2017 raised eyebrows from cryptic enthusiasts and scammers. From now on also the eyebrows of the regulators. Although the cryptography market has undergone an unexpected drop during the past year, some of the major banks are still seeing huge potential in space encryption. Hughes cited the uncertain regulations that prevent these banks from adopting the broader perspective of cryptography, yet they are eager to dedicate themselves to a space. "
"As the industry matures and gets better regulated, it will need the talent and expertise to manage it, according to Hughes." The legislation will help a lot, in particular regarding custody offers. These things take time. Customers of investment banks expect regulation to be in place.
While Binance Boss, CZ points out that he does not look at the price until someone tells him the same, the head of Coinbase admits he has a regular check.
He also declares that "the exchange of Coinbase considers a long view of the prices of cryptocurrencies".
"We need to go beyond the phase of bitcoin and cryptocurrency speculation in the utility phase.The utility phase will mean that bitcoins and crypts will become more widely accepted and understood."