• KuCoin’s Business Development Lead for Europe shared his insights with DailyCoin on how the crypto exchange is dealing with regulatory challenges and user demands.
• Regulatory bodies such as IOSCO, EU, UK Parliament’s Treasury Committee and Dubai’s financial watchdog have all proposed new regulations on crypto assets due to concerns about market manipulation and bad actors.
• Despite these pressures, centralized exchanges are still dominant players in the crypto space as meme token demand has seen an unexpected return in popularity.
Regulation of Crypto Assets
Regulatory bodies such as the International Organization of Securities Commissions (IOSCO), European Union (EU), UK Parliament’s Treasury Committee, and Dubai’s Financial Watchdog have all proposed new regulations on crypto assets due to concerns about market manipulation and bad actors. These include rules that encompass conflicts of interest, crypto custody, market manipulation, investor protection, and more.
Centralized Exchanges Still Dominant
Despite these pressures from global regulators, centralized exchanges are still dominant players in the crypto space. This is largely due to an unexpected return in demand for increasingly obscure meme tokens.
Interview with KuCoin’s EU BD Lead
DailyCoin’s Sections Editor Stefan Trapp spoke to Dorian Vincileoni, Business Development Lead of KuCoin for Europe at Next Block Expo 2023 in Warsaw to learn more about how exchanges are dealing with these challenges. Vincileoni stated that leading KuCoin’s business development in the EU involves tackling regulatory issues as well as talking to users.
User Experience & CEX Competitors
Vincileoni also commented on what he sees happening with U.S.-based markets and CEX competitors like Binance. He believes that centralized exchanges cannot ignore meme coin communities if they want to stay successful or grow their user base further.
Crypto Utility & Adoption Challenges
Explaining utility within the context of cryptocurrencies remains a challenge for many European countries when it comes to adoption levels; however there appears to be positive upswing overall despite increased regulation on cryptocurrency businesses worldwide.
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