Financial institutions are investing in cryptocurrency but laws are necessary

More and more financial institutions are offering their customers cryptographic services and are launching new digital money funds. Salil Deshpande on Fortune explains this market could potentially get multi-billion dollar exchanges. However, regulatory obstacles slow down the explosion of this business based on trust. So, laws on the subject are necessary.
Cryptocurrencies were born for the “retail” market and for private investments, but the institutional bodies are the most attractive area.
Virtual currency platforms, under license, are assisting institutions in transactions such as exchanges and transactions.
Two conditions, essential and complementary each other, are emerging:
– a centralized system that mirrors the traditional financial system, but with many friction points removed, creating an on-ramp of fiat into the crypto world.
– a decentralized, trust-less replica of the centralized system with protocols built to support each independent function.
Central banks – especially in the developing world – can harm national economies if they can’t overcome systemic shortcomings and stem inflation or devaluation. This is why some companies are developing “stablecoins” whose value is less prone to fluctuation, in one case pegging the value of a digital coin to the U.S. dollar.