More and more governments are cracking down on cryptocurrencies in an attempt to protect investors from illegal and volatile financial instruments. But this is far from being the end of crypto. Regulated and licensed crypto exchanges will survive as they become more diverse offering new methods of privacy, different safety protocols, ID security infrastructure, metrics, and regulation.
Regulated exchanges will set a (high) benchmark for businesses and governments that will enable the framework to properly use blockchain and the whole potential of this technology in their operations. In practice, we are talking about better and more efficient technologies, insurance, and rules that will give investors and banks the security they need. Regulation is also the precondition to bringing institutional money to crypto and position currently niche market side by side with traditional stock exchange markets. And furthermore, we believe that IPOs will give a fair share to tokenized assets which will represent an important part of enabling smaller companies to go public. But more about tokenized assets next time.
We see regulation as the next step to market growth for digital asset exchanges that use blockchain technology like Bcnex. The crypto sector has come a long way from when the first exchange was founded in early 2010 to match buyers and sellers of Bitcoin. There are currently just under 230 cryptocurrency exchanges according to CoinMarketCap, and with millions of dollars traded daily, they play a crucial role by providing secondary market liquidity in the cryptocurrency economy.
By focusing on regulatory compliance (customer asset protection, improved transparency, increased market surveillance and stringent IT security), regulated crypto exchanges will become the springboard for market participants to access new pools of national and international capital. By adopting regulated best practices, regulated crypto exchanges are expected, over time, to attract interest from the institutional investment community as well as from retail investors.
Global regulators receive an unending stream of applications for market authorization, with some of the crypto-related products at the leading edge of innovation. As trading crypto assets evolve, so the traditional exchanges are also adapting. Even conventional financial market players are realizing that there is value in trading crypto assets.
Vietnam’s Prime Minister Nguyen Xuan Phuc has been vocal about the adoption of new incentives presented at the Conference of Implementing Tasks in 2019 of the Ministry of Information and Communications. Vietnam’s economy can greatly benefit from introducing a legal framework for blockchain, thus opening the market for tech startups, developers, engineers and other specialists in the highly competitive and trendy field. To this end, Bcnex is developing a fully integrated blockchain-based platform to tokenize existing securities and non-bankable assets.
Bcnex aims to attract more investors and foreign capital through a public token sale announced to start in May 2019. There are only 100,000,000 BCNX for sale. The BCNX Tokens Sale Event is expected to end on June 12th, 2019, when revenue reaches 15,000,000 USD, or when all tokens are sold out, whichever comes first.
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