Institutional investors are very positive about US Security and Exchange Commission (SEC) having powers to regulate the crypto market, as according to them this will have a positive impact on the prices of cryptocurrencies.
In a recent report released by European digital asset hedge fund manager, Nickel Digital Asset Management, on institutional adoption of crypto assets, it was identified that asset custody is very essential for investing in crypto space.
There was a survey conducted in the report in which 50 wealth managers and 50 institutional investors across the US, UAE, Germany, UK, and France were interviewed. The reports reveal that the real reason for institutional investors to be doubtful about investing in crypto is security concerns.
The respondents were also asked about crypto regulations, as SEC has asked Congress to give them more powers to regulate crypto exchanges and activities.
About 78% of the respondents showed positive intent about SEC being given more powers to regulate cryptocurrencies.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.
Photo by athree23 on Pixabay