CRYPTO
How can trust in crypto be restored ? It ’ s clear that issues of trust concerning crypto go beyond XRP ’ s collapse alone . How , then , can trust be restored ? Synpulse ’ s Heibel – much in the same vein as Tucker-Feltham – believes it is legal clarity that is lacking .
“ We need legal clarity , particularly in the US , where regulatory waters are muddy ,” says Heibel . “ Institutional adoption , as we ’ re seeing in Switzerland or with the Blackrock Bitcoin ETF , will bolster confidence .”
To achieve adoption on an institutional level , Tucker-Feltham suggests an extension of the European Transfer of Funds Regulation ( TFR ) could assist in rebuilding trust in crypto .
He adds : “ At its heart , the TFR would identify the senders and beneficiaries of all crypto assets . Solid KYC procedures and digital identity verification would play a big part in this as they add a further level of trust to transactions .” fintechmagazine . com 123