Quote from: mycryptos on October 27, 2018, 09:10:00 AM

Quote from: BTCDH on October 27, 2018, 07:29:11 AM

Hello,

I'm fairly new in crypto and explored a bit about BTC but was looking to diversify and I'm currently looking into smaller projects..

From my understanding Covesting is looking to be a licensed exchange. Any ideas if these licenses will allow Covesting to do something different? How is it an advantage over other projects/exchanges? Lots of exchanges doing fine without them I think.

Cheers,

One of the main reasons governments around the world are cautious and suspicious about crypto is due to the prevelance of bad actors in the eco system. But the floodgate has opened. Whether they like it or not, government cannot stop crypto even if they try.

The next best option is to tame this beast by introducing regulations to ensure bad actors do not enrich themselves at the expense of less inform members of the public.

What does license allow Covesting to do that others exchanges are not able to?

The answer to this question may not be obvious now, given the most successful crypto exchanges operate under clouds of anonymity in jurisdiction known as tax havens with lax regulatory discipline.

I have been following Covesting since its ICO. I expect the following to occur in the coming months if not sooner:

- Regulatory authorities around the world will require exchanges handling investment from public to be subjected to control and compliance similar to traditional investment products.
- Strict KYC and AML surveillance must be in placed
- Convergence of crypto investment into mainstream financial markets and entrance of large institutional players into the crypto space

When these 3 things happen, licensed platforms such as Covesting will leapfrog ahead the top players in the market if they remain free and not subjected to powers of law and accountability to the investing public.

I cant see professional fund managers choosing to do business with unlicensed exchanges when licensed one such as Covesting ready to do business with them.

Totally agree. I think regulated exchanges will be the new standard for the crypto space once it matures.