Long-term investment, curiosity, and speculation are the three main reasons driving investment in cryptoassets, according to a recent Accenture study that reflects their growing appeal. This conclusion is corroborated by other surveys: 30% of investors who have made any financial investment in the last five years have purchased cryptoassets, which are already the primary investment product among young people. This is affirmed by 6 out of 10 investors aged between 16 and 30, according to the OCU.
The current cryptoasset market comprises a wide range of assets, of different types and with varying risks, and related service providers that, for the most part, are not subject to a regulatory and supervisory framework. This makes operating in this market risky today: in addition to the high investment risks due to the volatility of many cryptoassets, there are also frauds or losses resulting from the mismanagement of some operators.
The future European MiCA regulation will help provide greater security for cryptoasset investors. It will also allow banks to participate in this market, if they so choose, helping to improve risk control and management practices and build greater trust.
Having an adequate protection framework for investments in these types of assets is necessary, but it cannot be the sole response to the challenges. Improving financial education is a necessity for all Spanish society, and especially for young people. Because education is a great companion throughout life, helping us make informed decisions based on the maximum possible information.
José Luis Martínez Campuzano, spokesperson for the Spanish Banking Association
