Fresh calls for further crypto regulation

27 May 2020

Bitcoin regulation High profile cryptocurrency advocates and mega investors, twin brothers, Tyler and Cameron Winklevoss are once again calling for regulation to be ramped-up in the digital currency sector.

In a podcast with Peter McCormack, Cameron said: “The independence and sovereignty around crypto is unmatched with any technology before, but the onramps have to have an element of thoughtful regulation.”

He added: “Free-for-alls don’t work…At the same time, overregulating something will absolutely stifle it,” he continued. “It doesn’t have to be an either-or, or an all-or-nothing situation.”

Meanwhile, his brother Tyler noted that, “You can be pro-regulation, but disagree with the state of regulation.”

The comments from the twins, who have been named as the 15th and 16th most powerful people in crypto, echo those previously made by deVere CEO and founder, Nigel Green.

“There is no question that regulation is necessary and is on its way. It is clearly an area in which there is an enormous need for a robust international regulatory framework and strict ongoing supervision.  One of the best ways to address the regulatory issues is via the exchanges,” said.

It’s a view shared by the former Head of the IMF and now European Central Bank President, Christine Lagarde, who has said that regulation is “inevitable.”

This seems increasingly likely, especially given that last year one in five financial institutions were considering trading cryptocurrencies within the next year, according to a survey recently published by Thomson Reuters.