Cryptos bring “opportunities for investment”

 In Investment, News, Regulators and Supervisors

The newly appointed head of Portugal’s stock market regulator CMVM says that cryptocurrencies could attract new investors to the markets.

Gabriel Bernardino, who replaces Gabriela Figueiredo Dias, says that while he is “concerned” at the new reality of cryptocurrencies, the opportunities cannot be ignored.
“It is impossible to stop cryptocurrencies” he said pointing out that the challenge of the regulators was to “ensure the protection the investors” but that there were advantages that could be had since “young people having a greater investment appetite could be positive.”
“There are realities that cannot be ignored. It is impossible to ban cryptocurrencies. It won’t work”, said Gabriel Bernardino when quizzed about the risks of the assets.
The new CMVM chief said that his role of the supervisor is to guarantee that the regulator has the power and skills to analyse what was going on the social networks, places where lots of armchair experts were handing out financial advice without being competent to do so.
“Protecting younger investors is a priority here, but there is a positive side to these assets in attracting new investors to the markets”, he said. The answer to prevent risk situations is, in his opinion, about “educating and fostering contact with new investors”.