• The CEO of the financial management company deVere Group, Nigel Green, has cautioned that the World Economic Forum (WEF) will ‘spectacularly fail’ if the agenda item for the Davos summit in 2023 on crypto regulation is not addressed.
• Green has pointed out that several industry-related occurrences have made laws necessary, emphasizing the need for passing the relevant rules due to institutions‘ rising usage of digital assets.
• Nigel Green is a staunch supporter of cryptocurrencies and an advocate for regulations, and has urged the European Union to consider a full-scale cryptocurrency adoption seriously.
The CEO of the financial management company deVere Group, Nigel Green, has recently taken a stance on the World Economic Forum (WEF) and the need for crypto regulations. He believes that if the topic of crypto regulation is not addressed at the Davos summit in 2023, the WEF will “spectacularly fail.” This is due to the increasing number of individual and institutional investors, like community trusts, pension funds, hedge funds, investment funds, and mutual funds, who have taken an interest in cryptocurrencies.
Green has also pointed out that regulations are now required in order to protect these investors from high-profile bankruptcies and fraud instances in the sector. He has taken a strong stance in advocating for regulations in the crypto space, and has even urged the European Union to consider a full-scale cryptocurrency adoption seriously.
Green is hopeful that the WEF will seize the opportunity to create meaningful change and help to protect investors, and is encouraging attendees to pressure their respective governments to prioritize cryptocurrency regulations. He believes that now is the time to take action rather than “talk the talk”, and he is certain that the WEF will become a more effective organization if they focus on crypto regulations.