Partner Bambos Tsiattalou comments on the crypto industry in relation to regulator scrutiny, in Cryptonews, 23 January 2021.
Read Bambos’ full comments here.
“The eventual EU regime looks set to require companies offering a cryptocurrency in the EU to have a physical presence in the EU, while significant governance and capital requirements are also proposed. It seems unlikely that any aspects of the proposed regime will be rushed into force this year, unless acute risks to financial stability or consumers begin to emerge,” he said.
“That regulation could well come into force this year. The fearful reaction from cryptocurrency advocates shows the serious impact which this regulation could have on the industry as a whole.”
“The wave of regulation which is now heading for cryptocurrencies will ultimately reveal that cryptocurrencies have no real intrinsic value and are fundamentally without substance. More stringent regulation will therefore cause the speculative market for cryptocurrencies to crash,” he said.