Do Crypto Exchange Have To Follow The GDPR

      Do Crypto Exchange Have To Follow The GDPR

With the phenomenal growth in the Cryptocurrency, that has been witnessing a sea of changes, fluctuations in international markets, there is more interest for investing in the digital currency than ever, as the entire digital space is overhauling with more regulations in place so that there is no room for any kind of scams to go through.

As the world of digital currency does not have any central authority monitoring them, there is a greater scope of coming through a lot of scams, due to the anonymity of the user, the enforcement of identity becomes a difficult task, hence to bring about an ownership and accountability for the sender and receiver of transactions using the digital wallets.

Regulatory aspects

  • international regulators are optimistically cautious while dealing with the opportunities that are opening up in the Blockchain technology, bringing about a balance of technology, innovation and regulation is the key focus
  • the plan to work together as there can be no discovery like the digital currency that has been more or less stable in terms of how it is valued against the dollar equivalent
  • the ICO platforms are highly regulated, by adding the features of knowing your customer measure in a bid to keep the entire mechanism in the digital world free from money laundering and scammers
  • for harmonizing the data protection across the crypto exchanges in the world, it has become mandatory for non-European crypto exchanges to comply with the regulations, making it a strict data protection hub
  • the strict regulations will have all the air cleared about how the digital crypto space is flooded with scams and swindle, that all the E-wallet coin currency is compromised and wiped off the account

How is the Cryptocurrency Exchange reacting?

With a strong focus on the data protection, privacy aspect and the consent of the creator of the transaction and their right not to be forgotten is the essence of the regulations that are being created. The exponential growth phenomena of the trading with the Crypto CFD Trader platform has seen a steady growth in the trading in the daily volumes as well as the number of users trading with the help of a trading robot for new users, to be more focused on the trading tips and strategies. The Crypto exchanges have become more like the hybrid version of both the traditional stock exchange and the currency exchanges

 

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