61% of Luxembourg financial players to embark on crypto journey in 2022: PwC


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In a bullish report launched by skilled companies agency PwC Luxembourg, 61% of 123 Luxembourg-based monetary gamers are “embarking or planning to embark on a crypto journey.”

The report comes scorching on the heels of competitor skilled companies agency KPMG Canada’s determination so as to add Bitcoin (BTC) and Ethereum (ETH) to its treasury. It seems the Big Four is warming up to crypto.

Thomas Campione, blockchain & crypto-assets Chief for PwC Luxembourg, informed Cointelegraph that “For a few years, conventional gamers have been crypto-assets with skepticism.” He added {that a} doable mixture of “branding points” and a lack of knowledge could have stymied development within the area prior to now.

Nevertheless, the damaging sentiment could also be on the flip. Campione informed Cointelegraph:

“It’s changing into clear nevertheless that 2022 shall be a pivotal yr in relation to crypto-assets administration.”

The report shares that the “fee at which the worldwide crypto-assets trade is simple,” and makes an attempt to make use of Luxembourg as a “lens” by which one can acquire a greater understanding of the nascent asset class.

The one Grand Duchy on the planet, Luxembourg is a tiny European nation that punches properly above its weight within the monetary companies and blockchain industries. In 2021, the PM declared his need for Luxembourg to be the ‘digital frontrunner’ in blockchain.

OG’s within the cryptocurrency area will keep in mind that PwC Hong Kong began accepting payments in BTC in 2017. Campione informed Cointelegraph that PwC Luxembourg started the identical course of in 2019.

Associated: Bitcoin price circles $44K as analyst asks, ‘Who remains to sell here?’

Whereas the report cites vitality consumption, anti-money laundering considerations and “regulatory fragmentation” as challenges going through the cryptocurrency trade; critically, one-fifth of the companies surveyed within the report already view “crypto-assets as a strategic precedence.”

Campione concluded:

“Considered that Luxembourg is the second funding funds hub on the planet, these outcomes clearly set the tone on what to anticipate out there within the very close to future.”