During a recent appearance on CNBC’s Squawk Box, former CEO of Barclays, Bob Diamond, expressed his support for the cryptocurrency industry to embrace necessary regulations instead of avoiding them.
Diamond emphasized the crucial need for regulatory clarity in order to fully unlock the potential benefits of digitalization and cryptocurrencies. Additionally, he praised mainstream financial institutions like BlackRock for their increasing involvement in this field.
The former Barclays executive also emphasized the importance of understanding the term “crypto” within the broader context of digital advancements.
He highlighted the growing adoption of digital assets and blockchain technology by traditional financial institutions while underscoring the persistent regulatory uncertainties faced by the sector. Also, Diamond claims that lack of clarity remains a significant obstacle and a risk factor for industry participants and investors alike.
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