Oct 24, 2022 11:10
Nearly 60% of professional investors say the US Securities and Exchange Commission (SEC)’s aggression makes crypto attractive, according to Bloomberg’s latest MLIV Pulse survey.
Per the report, almost 60% of 564 respondents participating in the survey see the crackdown by the SEC, the Commodity Futures Trading Commission (CFTC) and other government agencies as positive signals for the crypto industry.
Both retail and professional investors are keen to invest in crypto even as regulators ramp up enforcement actions in crypto.
Getting crypto ‘out of Wild West’
As Invezz recently reported, CFTC says crypto-related enforcement actions accounted for 20% of its Fiscal Year 2022 total. The SEC has also been aggressive against several companies and industry players, including the action against TV celebrity Kim Kardashian. The two agencies say the regulatory efforts tie in with the need to ensure overall investor protection.
When asked whether they would invest in the asset class with the current enforcement landscape, 65% of retail and 56% of professional investors said they were more than likely to do so.
Chris Gaffney, president of world markets at TIAA Bank, explained why more investors are comfortable with tighter regulatory ecosystems, noting that this approach opens up the crypto space for more institutional investors. He added:
“The more they can get crypto out of the Wild West and into traditional investing, the better off it’s going to be.”
On specific crypto assets, investors are optimistic about Bitcoin (BTC/USD), with the overall sentiment about BTC price being that the flagship cryptocurrency will fluctuate between $17,600 and $25,000.
In July, a similar survey had found most investors believed bitcoin could tank to $10,000 first before bouncing to highs of $30,000 by the end of the year.
The post SEC’s aggression makes crypto attractive to professional investors: study appeared first on Invezz.
from Cryptocurrency – Invezz
World Crypto Global
