How Regulated Cryptocurrency Exchanges will Benefit Cryptocurrencies

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How Regulated Cryptocurrency Exchanges will Benefit Cryptocurrencies

ForexMinute.com – There can be no better example to prove the growing acceptance of cryptocurrencies among regulatory bodies. A week before, it was SecondMarket that gave a wonderful preview of its fully regulated Bitcoin exchange; this time, it is Atlas ATS which is all set to stump the critics that said that Bitcoin (or any other digital currency) will never be accepted in mainstream trades and businesses.

The renowned cryptocurrency exchange is all set to become the first regulated cryptocurrency exchange in the US, as a result of its just-signed partnership deal with The National Stock Exchange (NSX). The more elaborated version of this announcement reflects that Atlas ATS has signed a Memorandum of Understanding which will allow NSX to make amends in the former’s civic functionalities. In more simple words, the NSX will simply apply some rules on Atlas ATS that are already followed by other US stock and options exchanges.

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These rules are yet to be made public, so as the Atlas ATS nod on them. However, the company’s CEO Shawn Solves although sounded enthusiastic in his announcement and indicated that Atlas ATS will definitely sign this alliance. “Atlas will become the first Bitcoin marketplace to be regulated by a quasi-government entity,” said he, while speaking about the need of a properly managed cryptocurrency exchange to ensure investors with secure and trustable trades.

And the man is indeed right as the world have encountered the unfortunate fall of Mt. Gox this February. The loss of million dollars’ worth of Bitcoins are still the most embarrassing chapter in the six-year old history of cryptocurrencies.

But there are few obstructions too

There are many cryptocurrency radicals who believe that Bitcoin was never meant to be regulated and doing it so will simply kill the one trait it was riding high on, which is decentralization. Furthermore, there also several security issues that requires immediate attention so as to avoid another Mt. Gox-like scenario.

Meanwhile, there are more pros than cons to such regulations of digital currencies – most of them include the highly traded ones like Litecoin, Dogecoin, amongst others. Not only it will make trading safer than now, when supervised by strict financial authorities, but will attract more merchants and investors towards accepting these new alternatives to fiat currencies.

To contact the writer of this article: Yashu Gola at yashu@forexminute.com

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