“To stay in power and to lead a pack, taking risk is an ability that few have.”
Well so to say, Cryptocurrency Exchanges have to be prepared for recent developments and what system the U.S. Securities and Exchange Commission has put across. The most important aspects which one was missing out all this while was that the responsibility of a creator does not end with the creation of an exchange on a Blockchain, instead, it goes on to be on the rising end.
And this is what even Rober Cohen, Chief of Cyber Unit of SEC thinks.
Cryptocurrency so far had been on a racing streak sprouting in all corners of the economy, however, in order to keep track of advances in this particular field came in U. S. SEC’s Cyber Unit. According to the latest developments, SEC shall make a note of minute details so as to keep Cryptocurrency Exchanges in track.
SEC’s focus turned toward Cryptocurrency Exchange solely based on the fact that there is an ‘Exchange’ involved in talks and this can turn tables for all parties involved. Therefore, it was necessary for something or someone to take charge of changing the environment.
Another fact to be taken note of is, decentralization or smart contract were never in question, it was only these sets of ‘decentralized exchanges’ that had to be looked at. Reasons being, exchanges for the most part ran on ‘self-executing codes’. Responsibility of these codes also included contacting individuals directly!
Cryptocurrency Exchanges: Would they ever be Accepted?
Question that an individual faces here is whether anyone out there is going to accept these Cryptocurrency exchanges or not? Some of the exchanges have worked their way up while there were also others who could not make a mark for themselves.
Scams are another factor that take away trust from a platform.
If you have ever noticed then some of these Cryptocurrency Exchanges have been launched with an ‘ox platform’. While on the other hand there are also other exchanges which have seen the light of the day as they were being solely made on Blockchain.
And if views of experts are to be taken in to consideration then we may make a point very clear: it is next to impossible at the moment to shut down Exchanges that have formed their basis on Blockchain!
In simple words Blockchain based Cryptocurrency Exchanges have found themselves to be built on a platform that does not seem to have an end to it. With loads of decentralized servers apart from domain providers and a lot of similar other stuff, exchanges are heading towards a whole new wave of development.
A development, that many see as an answer to an easier way out; whilst some experts are of the belief that if monitored on regular basis then Blockchain based Cryptocurrency Exchanges shall leave a mark for itself. To let this thought turn in to a reality, it shall certainly take some more time because streamlining aspects is an important part of development as far as these exchanges are concerned.
And with U. S. Securities and Exchange Commission right around the corner, exchanges under Cryptocurrency tag have to abide by the rules. Do they?