Shapeshift CEO asks Financial Regulators to hug Cryptos

Erik Voorhees, CEO of cryptocurrency exchange Shapeshift, called on regulators to accept cryptocurrencies as a competition to the existing financial system
12 June 2018   437

Voorhees expressed his point of view in an interview with Bloomberg. He displayed some problems within the cryptocurrency industry, including regulation, competition and the future of Switzerland-based Shapeshift AG. Voorhees confirmed the existence of centrally-issued money is incongruous to the existing framework of a market-based economy. Then he compared the issuance of money to a manufacturer of shoes and claimed if strict regulations prohibit the latter from getting a monopoly in the market, the same ideology must apply to fiat currencies.

Voorhees said that money is the foremost good in a market-built economy and have be open to competition:

Most regulation is superfluous at best, and a lot of it is quite harmful. Even if someone doesn’t buy into the idea that cryptos will overtake fiat, most people should at least be interested in the fact that competition is now happening. That’s generally seen as a good thing.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Shapeshift CEO also expressed an opinion that the present model of regulation makes problems instead of remit them. Criticising American cryptocurrency regulations, he continued:

Regulation should focus on preventing fraud and theft. There is no need for thousands of pages of regulations to prevent fraud. Most of the regulations have nothing to do with preventing fraud. Consenting adults who are not cheating each other should be allowed to interact economically in any way they see fit.
Erik Voorhees,
CEO, Crypto Exchange Shapeshift

Voorhees supposes that growing regulatory legislation has a positive correlation to “brain and capital flight” in the crypto sphere, citing the example of the New York-based BitLicense. At the end of the interview, Vorhees hinted at the SEC’s ambiguity over Initial Coin Offerings (ICOs) as another reason that impacts Shapeshift’s reluctance to run an ICO.

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Zb.com to Open Office at Malta

Country made another step froward to leadership in blockchain industry
16 August 2018   94

Fifth in terms of the daily trading volumee exchange ZB.com announced plans to open a representative office in Malta. This is reported by CCN.

Secretary of the Malta Parliament for Digital Innovation and Finance Silvio Schembri said that the opening of ZB.com will be another step in the country's leadership in the blockchain industry.

At first, the Maltese branch of ZB.com will offer customers only cryptocurrency exchange, and subsequently also plans to add support for the currency. ZB.com will be the third exchange in Malta, following the offices of Binance and Bitbay, which offers the exchange of digital currencies for fiat money.

Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon.
 

Jimmy Zhao

Co-founder, ZB.com

Zhao said that he was invited to Malta by his business partners and met with government officials to discuss the possibility of opening a representative office.

According to CoinMarketCap, the volume of deals on ZB.com for the last 24 hours was areoud $ 267M. The most popular trading pairs on the platform are BTC / USDT, Dash / USDT, Qtum / USDT and ETH / USDT.