Blocktrade Wants to Become Europe’s First MiFID II-Regulated Crypto Exchange

If everything goes as per schedule, the company hopes to add support for security tokens in the coming few months!!

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When it comes to cryptocurrency-friendly regulation, Europe is seemingly leading the charge. In this regard, Blocktrade, a newly announced cryptocurrency exchange, is mainly targeting the European region by focusing on being compliant first and foremost.

Blocktrade Taps the European Market

Over the past couple of years, Europe has had a relatively small crypto market. However, slowly but surely, that situation is changing, especially since more and more exchanges are trying to make an impact in Europe, with Blocktrade being the latest one to do exactly that.

The goal of Blocktrade is to make cryptocurrency trading more accessible for the masses. The company is doing this by focusing on complying with local regulatory requirements. Moreover, the company is hopeful that it will be able to operate under Europe’s MiFID II framework. However, a final decision on the topic is expected to be released by the FMA (Financial Markets Authority) in the near future.

In relation to the matter, Blocktrade.com CEO Luka Gubo had the following words

“This is an ideal way for regulators across Europe to recognize cryptocurrencies as a new asset class and put in a regulatory framework. If an institutional investor wants to invest in cryptocurrencies, they currently have a problem. Where do you send the order to buy? There’s a lot of speculative valuing in cryptocurrencies, so there’s currently no way to lower the volatility — proper regulation is the only way to lower that risk.”

As is always the case when a new cryptocurrency trading platform launches, several currencies will be supported from day one. The list includes XRP, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Throughout 2018, Blocktrade plans to add support for security tokens, crypto traded indices and tokenized assets. Users can sign up for an exchange account today, although the platform will not fully launch until September of 2018.

Final Thoughts

If Blocktrade can become the first cryptocurrency exchange regulated under MiFID II, a major milestone will be achieved. Even though the current price momentum may not favor Bitcoin or other altcoins in general, the infrastructure to bring this form of money of the masses continues to evolve. 

Image courtesy of Shutterstock.com


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