Regional and global stakeholder interest in and curiosity about digital assets are growing across the financial services industry, even in the absence of a comprehensive U.S. federal regulatory framework. In a new Impact Report, U.S. Regulatory Developments for Digital Assets: Implications for U.S. Wealth Managers, research and advisory firm Aite-Novarica Group summarizes recent announcements from the Biden Administration coupled with impending bipartisan legislation, and evaluates its potential impact on the U.S. wealth management industry.
“Credible market participants are already building a secure and compliant crypto-ecosystem that is likely to support the EO,” said Wally Okby, Strategic Advisor at Aite-Novarica Group. “Wealth managers should engage with providers to understand the technological, risk, and business requirements necessary to provide access to digital assets and assess whether to build, buy, or rent digital asset infrastructure.”
“Beyond the early adopters, most wealth managers are still trepidatious about using digital assets,” adds David Himmel, Associate at Aite-Novarica Group and co-author of the new report. “A regulatory framework, with clear guidelines for investor protection is critical to meet investor interest and demand.
