Today’s post hammers home the need for regulation in crypto in order for institutional financial firms to invest in crypto. The article below from CCN.com affirms my belief that regulation is needed for the exponential growth of the crypto markets. I hear people talk about Bitcoin at $60,000 a coin. If that is to happen it will need the backing of and the attraction of the money that large financial institution bring. You will only get these institutions by having clear and well established regulations.
Author, Joseph Young of CCN.com reports:
According to Daniel Santos, a former Standard Chartered executive, one major catalyst that could reverse the current trend of the crypto market is the imposition of positive regulatory frameworks by leading digital asset economies.
Earlier this week, the world’s fourth largest asset manager Fidelity Investments introduced a cryptocurrency custodian solution.
The unforeseen decision of the firm to enter the cryptocurrency market provided two crucial hints regarding the mid-term growth of the market: there exists significant demand from institutions and regulators have acknowledged major digital assets as alternative stores of value.
Read the rest of the article here: Banker: Continuous Establishment of Regulation in Crypto Will Attract Institutions