Regulated financial exchanges are discussing how to leverage the growing interest in cryptocurrencies, but a third of respondents in a recent survey have no plans to offer crypto assets.
Exchanges express concerns about the lack of uniform regulatory standards, market volatility, and potential cybersecurity risks associated with cryptocurrencies, according to a report from the World Federation of Exchanges.
Survey Results
Among the 29 exchanges surveyed, 12 currently offer crypto-related products or services, while 17 do not. Of those without current crypto offerings, only seven plan to introduce them in the future, while 10 do not have such plans.
Establishing Working Groups
Around 38% of the exchanges surveyed have already established or plan to create working groups focusing on crypto-related assets or services.
Slightly over a quarter of respondents believe that crypto assets will become mainstream in the near future.
Mainstream financial institutions have shown interest in blockchain technology for issuing and trading traditional financial assets, although widespread deployment has not yet occurred.
London Stock Exchange Group’s Blockchain Exploration
The London Stock Exchange Group recently announced its exploration of using blockchain for a capital-raising and transfer system across asset classes, but this initiative does not involve building around crypto assets.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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