By AltFi on Monday 9 August 2021
Crypto trading is risky, picking a trading platform shouldn’t be.
AltFi Weekly Leader
Oh, crypto, what are we going to do with you?
2021 has been the year of weird and wonderful trading trends, crypto very much among them.
Towards the end of 2020, we saw cryptocurrencies reach heights many had prophesied about for years, only for several coins to fall back down to earth over a matter of months.
Now, it seems as if the chaos of the market is catching up with trading platforms themselves.
Crypto exchange giant Binance found itself in hot water with the UK regulator after failing to meet anti-money laundering regulations earlier this year.
In the wake of the instability, Binance announced it planned to stop crypto futures and options trading altogether in other European countries soon.
Sensible investing should, of course, be about long-term returns rather than short-term gains. However, many will still be drawn to the volatile trading potential of Bitcoin, and we need a more stable regulatory landscape to ensure they are protected and supported.
Tales of bank accounts being frozen, trading platforms locking users out, and regulators blacklisting said platforms need to become the exception, rather than the rule.
Eight more months of uncertainty isn’t what anyone needs right now.
The AltFi Leader is a new weekly view for 2021 from our editorial team. We’d love to hear your ideas, thoughts, feedback and constructive criticism: email@example.com