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Institutionalize crypto markets now: There must be compliance controls

Cryptocurrency Oct 04, 2020 08:00AM ET
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Institutionalize crypto markets now: There must be compliance controls

Thanks to regulatory uncertainty from the United States Securities and Exchange Commission and a hodgepodge of state licensing requirements, the development of crypto trading in the U.S. remains stuck in the backwaters of trading reserved for Over-the-Counter Bulletin Board issues.

In order to ensure the continued and healthy growth of digital asset markets, it is critical to expand the market share of institutional crypto trading. That’s a better business model for digital asset markets, and it will force U.S. regulators to act quicker. Digital asset markets embracing this will realize that better controls will attract more institutional liquidity, and organizing behind a governing set of control principles is where to start.

Eric Hess (NYSE:HES) is the founder of Hess Legal Counsel and Helical, Inc. Hess Legal advises securities and digital asset firms on contract, security and privacy, AML, governance, technology licensing, and financing issues. Helical offers a cybersecurity-as-a-service platform. Eric has held CEO, general counsel and other senior legal and regulatory roles for registered equities exchanges, Lehman Brothers and other equities markets, fintech and market data companies.

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Institutionalize crypto markets now: There must be compliance controls
 

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