Leading Top-ranked cryptocurrency exchange CoinW hosts panel discussion on compliance, regulation, and the future of finance
The world’s-leading cryptocurrency exchange CoinW, held a panel discussion on the 8th of December, 2022 to discuss crypto compliance, regulatory framework, and the future of finance. This event was joined by 5 distinguished guests from amongst their peers and partners to discuss the place of crypto exchanges in the future of finance. Spanning the breadth of the industry, each speaker was invited due to their distinct perspective and expert knowledge of the crypto space. In attendance were: Ibai Basabe, Founder of ‘The Unit’; Mohamed Issa, Regional Manager of Chainalysis; Malcolm Tan, Founder of Gravitas International; Serdar Bisi, the Founder of Tycoon, and Gavin, Head of global partnerships of CoinW.
The blockchain industry is in a state of flux. With global macroeconomics laying pressure on all asset classes, the relatively young and volatile cryptocurrency markets have borne the brunt of the losses thus far. The bitcoin fear and greed index has hovered on the red side for months, and public incidents involving major players further impact public confidence in digital assets as a concept.
CoinW, as a pioneer, has a duty to educate the public and inform policy, to act as designed — a bridge between the traditional and next-generation models of finance, designed meticulously for users worldwide to enjoy, and promise to protect it and its users through this brave new chapter of economics.
CoinW’s commitment to compliance and fair implementation of regulations reflects in their consistent and vocal appearances at global events & conferences as the cryptocurrency industry matures. As pioneers in the blockchain space, their mission is to lead by example and be a driving force in cryptocurrency adoption worldwide. They acknowledge that this means working closely with governments to define, enforce, and abide by rules being set as we speak.
CoinW has been to Canada, Singapore, Nigeria, Turkey and the UK this year, speaking to industry peers, competitors, and regulators about key issues in blockchain and peripheral industries. Each region has a unique relationship with digital assets. Still, CoinW is working to consolidate the global perception of cryptocurrency by creating bridges between stakeholders through open dialogue and concentrated funding.
The platform approaches regulation with care. Digital assets are, for better or worse, controversial — opening lines of communication with skeptical parties requires tact. To have any influence over the legal status of cryptocurrency, companies in the space should work with, not against, governments to create a regulatory structure that works in their best interests. That has been CoinW’s goal and is the reason why they possess SVG’s crypto authorization, Canada’s MSB, and the USA’s MSB licenses — and are currently pursuing certification and partnerships in a range of key strategic locations worldwide.
Hosted by CoinW’s very own Amanda Budran and Skylar WuThe session kicked off with a general discussion of the state of regulation and the role of cryptocurrency exchanges such as CoinW in informing policy through action and dialogue. Gavin, Head of global partnerships at CoinW, commented, “We can expect exchanges and cryptocurrencies to grow from the current hot new investment tool view to being platforms that are sort of the backbone of many Financial transactions.”
He added that with our input, they’ll be more flexible and account for the different ways Cryptocurrency can be used. This is critical for safeguarding the different parties that use cryptocurrency for various transactions while ensuring a safe new future for the financial industry.”
Ibai Basabe, the founder of The Unit, gave some notable examples and a prediction of the future,“In 2014–2015, I think Polonius did a really good job on that, and in 2018–19 Binance did a great job. Maybe this cycle, CoinW could be the next one to emerge as a winner.”
Mohamed Issa offered a hot take on the scope of the cryptocurrency industry and its relation to TradFi, “In my opinion, the goal shouldn’t be complete cancel completely to replace traditional Finance or stay away from regulators but rather to create new opportunities because around the world as we speak now, many people still don’t have the opportunity to participate in traditional Finance.”
Malcolm Tan, Founder of Gravitas International, offered his perspective on the relatively mature and stringent Singaporean market, “I think increasingly we will see Regulators stipulating a very high barrier to entry before giving out licenses for exchanges.”
Gavin then capped off with CoinW’s future plans and range of services, “It’s worth noting that we offer a significant range of trading options and an unparalleled user experience. However, without our partners and community supporting us, I doubt we’d be in this position as we place a big focus on those. But as for the regulations, we will operate strictly under regional and international regs to protect the integrity of the platform and its users’ assets.”
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About CoinW
Founded in 2017, CoinW has grown from a disruptive startup founded by crypto, cybersecurity & finance veterans to an establishment with an international presence, localized in a multitude of languages to proudly provide comprehensive and regulated digital asset trading and investment vehicles to over 8 million users worldwide.
CoinW crafts user-centric products and services to encourage cryptocurrency adoption, education, and profit. Holding faith in blockchain technology and cryptocurrency, we aim to accelerate the mass adoption of cryptocurrency, empower liberty, equality, and sovereignty back to each individual, and attain immeasurable impacts on people’s lives, economic structure and society.
