Children of baby boomers are converting a “significant” amount of gold inherited from their parents into crypto assets, says Digital Currency Group CEO Barry Silbert.
“The younger generation of investors are not buying stocks,” Silbert said.
His company is a cryptocurrency venture capital firm operating in 30 countries with more than 120 investments, including Coinbase and CoinDesk. Silbert is convinced that Wall Street investors are gearing up to embrace a new asset class.
He also weighed in on the value of the cryptocurrency space's growth potential, comparing the current value of the $400 billion cryptocurrency market to what it was eight years ago.
“Most young people think cryptocurrencies are here to stay,” Silbert said. “And they're absolutely right.”
Peter Valkenburg, director of research at Coin Center said government agencies should first ensure uniform laws regarding cryptocurrencies in their countries before agreeing on rules internationally. As part of the regulatory confusion, the head of the research center cited the fact that each state in America has its own laws regarding cryptocurrency transfers and token valuation.
Valkenburg believes that securities regulations are most appropriate for those tokens that are used primarily as an investment.
According to https://www.forbes.com
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