Lack of EU Crypto Regulation “A Deterrent to Blockchain Innovation,” Says CEO of Gibraltar Blockchain Exchange
Although the lack of regulation in a particular industry could be interpreted as something positive at times, this doesn’t apply to situations in which governmental bodies choose to table a discussion on the matter for a later date. It makes markets unpredictable.
After the EU decided to leave discussions of blockchain regulation for another time, the cryptocurrency community reacted with mixed opinions. Nick Cowan, CEO of the Gibraltar Blockchain Exchange, believes that this may have adverse effects on the blockchain industry.
“A lack of EU-wide crypto regulation is a deterrent to blockchain innovation and will continue to hinder adoption of the technology by mainstream financial service providers going forward,” he said in an email sent to Cryptovest.
On the other hand, he also pointed out that “certain smaller jurisdictions in the EU” are one-upping the inter-governmental organization by passing their own regulatory frameworks that address blockchain companies. These laws establish the groundwork …
This article appeared first on Cryptovest
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