UK’s Leading Charity Fund Manager Believes Crypto Market Downtrend is ‘Bump in the Road’

On December 7, leading UK charity fund manager CCLA revealed at the Bloomberg Crypto Summit in London that the latest downtrend in the crypto market is just an obstacle on the road.

James Bevan, central investment executive of CCLA, told the listeners at the event that he doesn’t consider the ongoing fall in the cryptocurrencies value as an “existential crisis.” Rather, he believes that this is only a “bump in the road.” He also contrasted crypto with traditional money, expressing that institutional financial investors have had a lot of obstacles in regular monetary currencies and exchange platforms.

CCLA is one of the most prominent fund managers in the United Kingdom’s. On the last day of March this year, they also claimed that they have more than £7,842 million in resources under administration.

Another article of the Bloomberg’s Crypto Summit also envisions that the fate of crypto exchanges will involve more noteworthy regulations, greater inclusion by big foundations, minor volatility, and more prominent combination with traditional resources.

The article also refers to Marieke Flament, the Worldwide Head Advertising Officer at blockchain-powered payments firm Circle Internet Financial Ltd., as taking note that it may be advantageous to get the wheels in the movement for crypto exchange regulations so that the business can gain from potential faults.

This is not the first time a Circle officer has taken such a stand. The organization’s CEO, Jeremy Allaire approached global economies to team up on the improvement of crypto control, as Coin telegraph revealed in late October. To be specific, Allaire announced that at least there should be an ultimate standardization at the G20 level. This appeal appeared recently this week when G20 country pioneers confirmed the beginning of work on a world-wide cryptographic money taxation framework.