The rapid pace of innovation and increased investment in the cryptoasset industry
is increasing the need for information analysing these developments.
With the
publication of the first edition of the Global Cryptoasset Benchmarking Study
three years ago, the CCAF set out to progressively track and take the pulse of
this nascent industry by transparently collecting, analysing and disseminating
knowledge about cryptoassets.
Similarly, the 3rd Global Cryptoasset
Benchmarking Study seeks to shed light on the market dynamics of the
cryptoasset industry since late 2018.
The report collates data from entities operating in four main segments of the
industry: exchange, payments, custody, and mining.
A total of 280 entities
from over 50 countries across various regions responded to the surveys. This
benchmarking report is compiled using data from one of the most comprehensive
and robust databases currently available in the cryptoasset industry.
The research findings suggest that the industry has entered a growth stage
despite the notable headwinds the cryptoasset markets had encountered since
2018.
Additionally, regulators’ collaborative dialogue and regulatory interventions
in the industry appear to be supporting its growth by providing regulatory clarity
and harmonisation on the treatment of cryptoassets and related activities.
This
is an important development that has had immediate effects. For instance, the
publication of updated AML and CFT standards by the Financial Action Task Force
(FATF) in June 2019 encouraged compliance by industry participants, with an
increased share of the surveyed service providers performing KYC & AML checks
on their customers.
Nevertheless, our analysis has identified several hurdles – ranging from regulatory
compliance, IT security, and insurance – which need to be addressed for the
industry to grow to scale.
Our hope is that the findings captured within this study will offer insight into the
evolution of the industry and inform the decisions that industry stakeholders
will face as the space matures.
As with all of our research projects, we appreciate
that our ability to produce high quality research is highly dependent on the
cooperation of industry players and we extend our thanks to all the entities that
have contributed towards the publishing of this report.
Finally, I want to gratefully
acknowledge the financial support of Invesco as a long-standing supporter of
CCAF’s research and whose support made this study possible.
Dr. Robert Wardrop
Director
Cambridge Centre for Alternative Finance
Download the full 71 Page Report here: https://www.jbs.cam.ac.uk/wp-content/uploads/2020/09/2020-ccaf-3rd-global-cryptoasset-benchmarking-s...
is increasing the need for information analysing these developments.
With the
publication of the first edition of the Global Cryptoasset Benchmarking Study
three years ago, the CCAF set out to progressively track and take the pulse of
this nascent industry by transparently collecting, analysing and disseminating
knowledge about cryptoassets.
Similarly, the 3rd Global Cryptoasset
Benchmarking Study seeks to shed light on the market dynamics of the
cryptoasset industry since late 2018.
The report collates data from entities operating in four main segments of the
industry: exchange, payments, custody, and mining.
A total of 280 entities
from over 50 countries across various regions responded to the surveys. This
benchmarking report is compiled using data from one of the most comprehensive
and robust databases currently available in the cryptoasset industry.
The research findings suggest that the industry has entered a growth stage
despite the notable headwinds the cryptoasset markets had encountered since
2018.
Additionally, regulators’ collaborative dialogue and regulatory interventions
in the industry appear to be supporting its growth by providing regulatory clarity
and harmonisation on the treatment of cryptoassets and related activities.
This
is an important development that has had immediate effects. For instance, the
publication of updated AML and CFT standards by the Financial Action Task Force
(FATF) in June 2019 encouraged compliance by industry participants, with an
increased share of the surveyed service providers performing KYC & AML checks
on their customers.
Nevertheless, our analysis has identified several hurdles – ranging from regulatory
compliance, IT security, and insurance – which need to be addressed for the
industry to grow to scale.
Our hope is that the findings captured within this study will offer insight into the
evolution of the industry and inform the decisions that industry stakeholders
will face as the space matures.
As with all of our research projects, we appreciate
that our ability to produce high quality research is highly dependent on the
cooperation of industry players and we extend our thanks to all the entities that
have contributed towards the publishing of this report.
Finally, I want to gratefully
acknowledge the financial support of Invesco as a long-standing supporter of
CCAF’s research and whose support made this study possible.
Dr. Robert Wardrop
Director
Cambridge Centre for Alternative Finance
Download the full 71 Page Report here: https://www.jbs.cam.ac.uk/wp-content/uploads/2020/09/2020-ccaf-3rd-global-cryptoasset-benchmarking-s...