FATF reforms will ensure every crypto exchange is treated as a financial institution, claims eToro’s Mati Greenspan

When it comes to the crypto ecosystem, the businesses and  industry experts share the similar weightage when it comes to sharing opinion. One of the rising entrepreneurs in this field is Mati Greenspan, who currently serves as eToro‘s Senior Market Analyst, featured in one YouTube interview to discuss various insights within the ecosystem. While supporting cryptocurrency’s potential to change the financial system, Greenspan highlighted that,

“The FATF has put out some might say crippling reforms that they want all crypto exchanges to adhere to. And  that’s gonna kick in within the next year where every crypto exchange is going to be treated as a financial institution.”

The entrepreneur further spoke about a conversation with one of Ripple’s executives dated 2013, who “showed us a world where payments didn’t have to be done through banks.” Considering today’s crypto market, Ripple has come a long way so while confusing investors with the “fine difference between buying an equity share in a company and buying a utility token (XRP).” Touching upon the company’s recent developments, Greenspan said,

“I’m sure ripples explaining very well and efficiently what each product (tokens in the RippleNet Network) is and where they would best benefit each customer. If it’s saves a xVia vs xCurrent customer money with xRapid, then they can just jump over and hit a button.”