They have no intrinsic value and are subject to very high volatility, as the episodes we have recently observed have indeed shown. Other crypto-assets are, instead, backed by real or financial assets. If these assets are duly regulated and issued by clearly identifiable entities, they could also potentially be useful, under specific conditions, as a means of payment.
They can also be distinguished by differing levels of transparency, liquidity of reserves, and disclosure of their valuation processes. They are, however, suitable for regulation within a system similar to that applied to more traditional instruments that perform a similar function. The time needed to introduce new rules is not always compatible with the rapid dissemination of new technologies.