On the other hand, only 12% raised concerns about the carbon footprint from crypto. This is because the process of mining cryptocurrencies ( which rely on the proof-of-work model) relies on intensive energy consumption, to create mining blocks and validate transactions.
Nickel Digital is the largest regulated digital-asset hedge fund manager in Europe. The firm said that 76% of its survey respondents were positive that Gary Gensler, chair of the U.S. Securities and Exchange Commission will be able to convince Congress to give his agency more authority for digital assets governance by the next year.
“If the SEC is granted these extra powers, 73% of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets — 32% believe it will have a very positive effect,” the study said.
Gensler who taught a crypto course at the Massachusetts Insitute of Technology has disclosed that he is neutral and even intrigued by the technology but he isn’t about the protection of investors. He also said that digital assets could improve economic progress and gain wider adoption.
