Nearly 60% of professional investors say the U.S. Securities and Exchange Commission (SEC) aggression has led to crypto Charming, According to Bloomberg’s Latest MLIV Pulse Survey,
- Advertisement -
According to the report, nearly 60% of the 564 respondents who took part in the survey saw the actions of the SEC, the Commodity Futures Trading Commission (CFTC) and other government agencies as a positive sign for the crypto industry.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invez newsletter today.
Both retail and professional investors are keen to invest in crypto, even as regulators intensify enforcement action in crypto.
Getting Crypto ‘Out of the Wild West’
as invezz recently informed of, the CFTC says that crypto-related enforcement actions accounted for 20% of its fiscal year 2022 total. The SEC has also been aggressive against a number of companies and industry players, including: Action against TV celebrity Kim Kardashian, Both agencies say regulatory efforts are coupled with the need to ensure overall investor protection.
When asked whether they would invest in the asset class with the current enforcement scenario, 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 a tighter regulatory ecosystem, noting that this approach opens up the crypto space to more institutional investors. He added:
“The more they can get crypto out of the Wild West and into traditional investments, the better.”
On specific crypto assets, investors are optimistic about bitcoin (BTC/USD), with the overall sentiment around the BTC price that the leading cryptocurrency will fluctuate between $17,600 and $25,000.
In July, a similar survey found that a majority of investors believed bitcoin could drop to $10,000 before jumping to highs of $30,000 by the end of the year.
Invest in top cryptocurrencies quickly and easily with the world’s largest and most trusted broker, eToro,
68% of retail CFD accounts lose money