Onyze, a Spanish company dedicated to the custody of crypto assets, issued a statement sharing its position due to the latest events that have occurred these days within the crypto ecosystem.
According to Onyze, the situation that has been experienced in the market after what was known through the latest news has a negative impact in terms of trust for the crypto ecosystem, and maintains that through strong regulation, these events can be avoided to a greater extent.
“The event that we are experiencing with one of the four main exchanges in the world is not positive for the crypto ecosystem. Nor will its consequences be for both institutions and investors, especially in terms of confidence.”they expressed.
For his part, Enrique Palacios, Onyze’s Director of Regulatory ComplianceI comment the following: “As we also commented when the Celsius case happened, the digital asset system has been born out of nowhere for a few years and not all the projects that are launched have the same robustness and solvency; in such a way that cases like this leave a double slope in the sense that they purify the ecosystem so that it does not happen again in the future.”
Also, regarding this, Palacios highlighted that the solidity of the projects being developed is the key to the healthy development of the system: “Unfortunately for everyone, it cannot be ruled out that we will see similar cases in the near future because only those projects with a well-founded base and a well-established business model will have a future”he asserted.
In this sense, Onyze has emphasized its position in favor of effective regulation, saying that in order to protect investors at this time it is essential to have a regulation such as MiCA, which establishes rules to be followed by all the actors in the system and thus protects to those who trust to invest in the projects. “Although the final approval has been delayed to February and this represents one more delay that is not beneficial, in our opinion the regulation is being quite agile compared to the times necessary for the regulations established in other aspects of society ”Palacios added.
Likewise, they made a general call to inform yourself conscientiously and train yourself as well as possible when it comes to investments like these, which are still classified as risky.
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Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.