In a new ad campaign cryptocurrency exchange, Gemini, which in 2014, was founded by the Winklevoss twins, calls for better regulation of Cryptoprotected. The posters on taxi and in the new York subway with the slogan «the Crypt needs to be regulated» how to create the impression that the marketplace already provides the relevant regulatory requirements of the stock exchange. In addition to this slogan, you can also find «money has a future» and «Cryptoprocessor without the chaos».
The Head of marketing at Gemini Chris roan spoke with the Wall Street Journal.
We believe that investors who come to cryptoprotection should have the same level of protection as investors in the traditional markets. The exchange must adhere to the same standards, practices, regulations and compliance.
Some members of Cryptoprotected have already spoken out against this ad as AML, KYC and other security measures contrary to the fundamental principles of cryptocurrency.
Rules like mathematics? Sure. Crypto needs that. Rules like "KYC AML licencing taxation regulations Patriot Act bullshit?" No. Crypto doesn't need that.
— Nick Foley (@BookofNick)
The Mathematical rules? Of course, the crypt is needed. Type rules KYC, AML, BitLicence and other crap? No, this crypt is not necessary.
Educational blockchain platform Kryptic Nation said on Twitter that exchanges like Gemini I regulation «the same people and the leaders of the cartels that plague ordinary users for many years. These posters sadden us».
Director, initiative for digital currencies at MIT Media Lab neha Narula told the WSJ that the rules apply to Cryptoprotected unevenly.
There is a huge problem in terms of market integrity and consumer protection, so we have to make sure that the rules are followed where they are applicable.
Also, according to Narula, excessive regulation can stifle innovation, if compliance will cost companies too much.
As Cointelegraph writes, in an attempt to rid cryptoprotection from heavy legal framework American legislators have made in the House of representatives a bill entitled the Law on the taxonomy tokens. The act needs to withdraw tokens from the definition of securities and to provide a new definition for scriptaction. More data to search for .
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