Bitcoin Binary Options Regulation
Many traders devote their attention and loyalty to certain binary options brokers mainly due to the reason that the latter is regulated, and therefore, can ensure security of funds. This is the power of being under the strict monitoring of a governing body, at least for most brokers.
In most countries, Bitcoin binary options regulation remains to be in the gray area, which can be attributed to the absence of any authority or body to regulate the use of Bitcoin and those services that run on its technology. Therefore, binary brokers that exclusively operate on bitcoins may not have their binary options trading services regulated any time soon.
Meanwhile, online binary brokers that accept Bitcoin as payments and offer Bitcoin trading are the ones whose services are subject to regulation. In fact, many online brokers have recently acquired their license and are now being regulated, earning them more credibility in the binary options market.
Moreover, undergoing regulation poses several benefits both on the side of the brokers and on the part of the traders. For instance, regulated binary brokers are regarded as safe and legit as compared to those that are not. Not only does this keep their image clean, but it also serves as an advantage in attracting online traders to avail of their binary trading services.
In the event Bitcoin binary options regulation pushes through, it will have several implications on the traders. On one side, their bitcoins will be secure because the broker’s services will be monitored; on the other, transactions may lose their anonymity, especially on Bitcoin-powered brokers.
Despite the possible effects of regulating Bitcoin binary options trading platforms, the real implications are still to be revealed if and only if it finally takes place. Remember that Bitcoin use is not yet regulated in most developed countries, so all that is left as of now is to speculate on how Bitcoin binary options regulation will exactly impact the trade.