Winklevoss brothers suggests more regulations for cryptos

During the conference at South by Southwest in Austin, Texas, Winklevoss brothers said that regulation is needed in order to bring back people’s trust to cryptos.

Winklevoss brothers suggests more regulations for cryptos

The last hacking and stealing incident that happened to QuadrigaCX gained immense controversies which led people to lose their confidence on the exchange platform.

 

Blockchain critics, crypto critics, and even the masses now question the reliability and relevance of QuadrigaCX as a technology.

 

Not just that, the said incident also affected the whole industry of trading exchange platforms, including cryptocurrencies and blockchain.

 

As a help, several crypto enthusiasts and investors have already released their suggestions on how to gain back people’s trust and confidence towards the technology using different platforms like social networking sites, press conferences, etc.,

 

Two well-known people to share their suggestions on how to bring back people’s confidence back to cryptocurrencies were the Winklevoss twins.  

 

Winklevoss brothers were known as the persons who run and facilitate the Gemini Trust exchange, one of the world’s first licensed Ether exchange.

 

According to a report from Bloomberg, Winklevoss brothers suggests that regulations will be formulated and implied on cryptocurrencies.

 

Cameron Winklevoss said that the people have already seen various incidents of hacking and stealing that happened in the past few years which led to multiple losses on the end of companies and trust on the end of crypto investors.

 

There are a lot of carcasses on the road of crypto that we’ve seen and learned from.

 

Because of this, Cameron suggests that regulations must be done in order to gain back people’s trust and confidence in the technology.

 

At the end of the day, it’s really a trust problem. You need some kind of regulation to promote positive outcomes.

 

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