Europeans Looking to Trade Crypto are looking to Their Governments to regulate it

Cryptocurrency has become extremely popular over the past few years. Since it started over a decade ago, people have understood it better and have tried to trade. However, for people that have yet to dig through the wealth of knowledge necessary to understand the market, trading is close to impossible.

Even if the market can be a little obtuse, there are a range of issues within the market that make people hesitant to enter it. And the best part is that almost all of these issues can go away with better regulation.

Recent polls have shown that many Europeans voice their support for their governments regulating the volatile market. Since the market can flip into a state of chaos in a matter of hours, investor protection is almost nonexistent. The polls found that many people were open to the idea of their respective governments to set financial regulations.

A major reason for many Europeans wanting their countries to independently regulate crypto is because of EU and ECB intervention. 31% of the participants from Latvia, 34% from Germany, and 61% from Greece felt like the ECB’s intervention into their country’s economy were too much. On the other hand, respondents Estonia, Portugal, Spain, and Lithuania believed that their intervention was not excessive.

While many believe that the current market simply requires more regulation; that may not be possible under most circumstances. The last thing that regulatory bodies want to be is too rash with their decisions, which could ripple throughout the market. Therefore, others believe that countries should simply have a national e-currency that they can properly regulate.

A dedicated e-currency can be a good investment opportunity. It can also save investors from the trappings of the crypto market, where they could suffer tremendous losses due to market volatility. Furthermore, these independent tokens will allow these countries to become monetarily independent from the EU. However, this poll received mixed reactions from respondents.

Some people thought that monetary independence from the EU is a good idea. Others, on the other hand, disagree and think that the EU should have a collective cryptocurrency. Respondents from Greece, Italy, Spain, and Estonia supported the initiative and wanted independence. But Netherlands was against the idea of independent cryptocurrencies.

Overall, financial regulation is a very serious issues that people will need solutions too. Newer investors will not be able to join the market and will struggle to compete with more experienced traders. Proper regulation will also put proper protections into place that can save investors from suffering from a major loss.