Definition ∞ Market Legitimization is the process by which a market, asset class, or technology gains acceptance, recognition, and regulatory approval from mainstream financial institutions, governments, and the broader public. This involves establishing clear legal frameworks, robust infrastructure, and institutional participation. Market legitimization reduces perceived risk and encourages wider adoption.
Context ∞ Market legitimization is a recurring theme in cryptocurrency news, particularly as regulators worldwide grapple with integrating digital assets into existing financial systems. The approval of spot Bitcoin ETFs, the development of clear taxation policies, and increased institutional investment are often cited as milestones in this process. Ongoing efforts aim to balance innovation with investor protection and financial stability.
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