“Institutional Investors Are Afraid of Inflation”, Oleg Kurchenko at LA Blockchain Summit
The Founder and CEO of Binaryx, Oleg Kurchenko, joined the panel discussion at the LA Blockchain Summit. Along with the other industry experts and moderator Jeff Benson from Decrypt, Oleg discussed digital asset custodianship from the perspective of institutional investors.
The key message of Oleg’s speech contained the following arguments:
- Institutional investments in digital assets have increased dramatically over the past year. The main reason behind this is inflation and money printing by the US government. Other reasons include growing confidence in crypto as an asset class and improvements in the regulatory environment.
- Crypto regulation is coming. Recently, the SEC approved the first Bitcoin ETF. On October 19, an ETF on CME began trading in the US. Why has it been approved? The fund is quite understandable for the SEC because futures trading has an opening and closing points like other financial markets.
- SEC typically views cryptocurrency as a security, while the Commodity Futures Trading Commission (CFTC) considers Bitcoin (BTCUSD) a commodity and the Treasury calls it a currency. Authorities should agree on the crypto regulations and define which authority will control particular asset classes.