James Bevan, the Chief Investment Manager at the CCLA charity fund, stated that the recent cryptocurrency market slump is a “bump in the road” for the industry, during his keynote at the Bloomberg Crypto Summit in London.

According to Bevan, the tension and negative trend in the current crypto prices should not be taken as an “existential crisis.”

The CCLA’s Chief Investment Manager also noted that there are similar problems for cryptocurrencies and fiat, as “investors have had plenty of issues with traditional forms of money and payment methods.” 

The CCLA is one of the most significant charity funds in the UK, with around $10 million in managed assets, based on data from Q1 ‘2018.  

Taking into consideration the panels and keynotes at the summit, Bloomberg notes that greater regulations, larger institutional involvement, greater integration with traditional assets, and lower volatility are coming up for the crypto world.

Bloomberg also cited Circle’s global Chief Marketing Officer Marieke Flament, who believes crypto regulations are a way to get more institutional investors into the crypto realm.

Circle’s CEO Jeremy Allaire called on governments to help crypto regulations and to benefit from this move in a later stage.

Allaire stated that a regulatory framework needs to be created at a G20 level. As Cryptobrowser reported recently, finance ministers from G20 agreed on creating a cross-border crypto taxation system.

Cryptocurrency Regulations Cryptocurrency Crypto Market crypto Bloomberg CCLA

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