You are here: Home » Markets » Cryptocurrency » news
Business Standard

Cryptocurrency industry faces insurance hurdle to mainstream ambitions

Keeping crypto assets secure involves storing a 64 character alphanumeric private key. If the key is lost, the assets are effectively lost too

Alun John | Reuters  |  HONG KONG 

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting the buy-in from insurers would mark an important step in crypto industry efforts to show that it has solved the problem of storing digital assets safely following the reputational damage of a series of thefts, and allow it to attract investment from mainstream asset managers. "Most institutionally minded crypto firms want to buy ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 20 2018. 09:49 IST
RECOMMENDED FOR YOU