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Crypto broker states gradual recognition of cryptocurrency in society as an ‘asset’

"They are no longer something semi-marginal and are becoming a clear and accepted instrument, recognized not only by investors but also by regulators," Alexey Korolenko stressed

MOSCOW, October 29. /TASS/. The state and society are beginning to recognize the cryptocurrency as an asset, Alexey Korolenko, Executive Director of Cifra Markets, said in an interview with TASS.

"In general, high-quality regulation allows the market to develop and receive, if not direct government support, then at least recognition and trust. This recognition is reflected in the fact that a particular sector ceases to be marginal and becomes understandable and transparent to market participants and end users. <…> We can say that today we are witnessing the formation of a new "social contract," in which cryptocurrencies are recognized by the state and society as an asset. And this atmosphere is extremely important for the development of the market today," he noted.

According to him, this is important because such steps signal to all participants — from banks to private investors — that cryptocurrencies are becoming a fully-fledged part of the Russian financial world.

"They are no longer something semi-marginal and are becoming a clear and accepted instrument, recognized not only by investors but also by regulators," Korolenko stressed.

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