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A major United Kingdom charity fund executive at the Bloomberg Crypto Summit in London this Friday the latest crypto market crash is just "bump in the road," Bloomberg reports Dec. 7.
James Bevan, the chief investment manager at CCLA, said the recent reduction in the value of cryptocurrencies "as an existential crisis"; rather, he noted that he believes this is just a "bump in the road."
Bevan then also compared to traditional finance, stating that "institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems."
CCLA is self-described as "one of the UK's largest fund managers" and claims to have £ 7.842 million (just slightly short of $ 10 trillion) in assets under management on the last day of March this year.
Crypto Summit also predicts that "the future of cryptocurrencies will entail greater regulation, lower volatility and greater integration with traditional assets."
The first signs of the second largest stock exchange, Nasdaq, reportedly confirmed the launch of the Bitcoin (BTC) futures in the first half of the next year.
Bloomberg also cites Marieke Flament, the global chief marketing officer at blockchain-powered payments firm Circle Internet Financial Ltd., as noting that it is "to get the wheels in motion for crypto regulations.
Circle executive took such a stance. In late October, the company's CEO, Jeremy Allaire, called on global economies to collaborate on the development of crypto regulation, as Cointelegraph reported.
Namely, Allaire declared that "this request seems to have been normalized at the G20 level", when G20 country leaders declared the start of work on the international cryptocurrency taxation system.
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