The statements come weeks after reports surfaced detailing an apparent banking embargo on the part of Australian banks
targeting cryptocurrency businesses.
As previously reported by CoinDesk, the CFTC defined cryptocurrencies as commodities as far back as 2015, a decision that has led the agency to recently
target cryptocurrency businesses that it considers are hoaxing investors.
Not exact matches
The tenure is broad, but it radically
targets businesses which accept remuneration in
cryptocurrencies and then send it to another party.
Boland told ZDNet this is resulting in many
businesses and individuals left vulnerable, and
cryptocurrency exchanges sitting
targets.
What really seems to differentiate Tetra from many other exchanges is the fact that Tetra is explicitly
targeting professional traders and
cryptocurrency trading
businesses that need to streamline multiple trades, by offering an easy user experience to their customers and presenting themselves as fully compliant with regulations.
In such a way, all websites and mobile apps that provide
cryptocurrency exchange - like services are now
targeted together with individuals and
businesses offering associated services.
While Square is
targeting a head start in the bitcoin exchange
business, more services are expected to crop up making it even easier to buy and sell other
cryptocurrencies.
Security surrounding the emerging
cryptocurrency market is undoubtedly increasing, however, and roughly 40 percent of
businesses claim to be actively increasing security in regards to DDoS, ransomware, and
targeted hacks.
One common theme arises when studying the
business models of dozens of
cryptocurrency projects: traditional third - party intermediaries across the board are becoming
targets for scrappy, young blockchain - based projects seeking to directly undercut the «middleman»
business model.