Michael Demissie: Cryptocurrencies will stay in the financial industry

The top manager of the American banking giant BNY Mellon, Michael Demissie, is confident that the fall in the cryptocurrency market last year will not affect the interest of institutional investors in the industry.

During a conference held on February 8, the head of digital assets at the Bank of New York Mellon Corporation stressed that "the crypto industry is not going anywhere." Michael Demissie noted that institutional investors continue to be actively interested in digital assets.

"We see that clients are extremely interested in a wide variety of digital assets," 

Demissie said.

The top manager of BMY Mellon backed up his words with the results of a survey conducted by the bank last fall. The researchers reported that almost 90% of respondents expressed interest in tokenization and digital assets in general. 

At the same time, Demissie emphasized that the institutional industry simply needs transparent regulation of the industry.

"We absolutely need clear regulation rules. We need reliable and responsible industry participants who can offer reliable services and increase investor confidence. It is important to take a responsible approach to work in the field of digital currencies," 

said Demissie.