Clear laws, according to a SEBA Bank executive, will drive crypto acceptance

“In the longer term, I anticipate increased interaction with cryptocurrency as a result of a more defined regulatory environment,” SEBA Bank’s Christian Borel stated.

With many regulators on the lookout for crypto, many have asked whether regulation is beneficial or detrimental to crypto. Christian Borel, Senior Executive Officer of SEBA Bank, believes that if the laws are clear, it will likely accelerate crypto adoption.

The banking executive, institutions are likely to accept cryptocurrency if clear laws are in place. Additionally, the presence of “regulated counterparties” within the banking industry enables institutions and their stakeholders to have access to the crypto sector in a secure and trusted manner.

“I anticipate a significant increase in institutional engagement and adoption of digital assets as a result of a more defined legal environment, as these institutional players will require a regulated counterparty to function securely.”

Borel further observed that digital assets align with institutions’ goals when it comes to prospecting. “Institutional investors have always been quite receptive to new investment options, and their interest in the digital asset industry fits this strategy,” Borel notes.

Additionally, the CEO believes that because it serves a broad range of needs, the market will see an increase in the number of digital asset banks in the future. A digital asset bank resembles a traditional bank in many ways. Borel defines a digital asset bank as one that provides “a full suite of traditional banking services.” These, on the other hand, are optimised for the digital economy, as they offer a diverse array of crypto-structured items.

“I believe that as the digital economy grows, digital asset banks will become more prevalent, adjusting to the dynamic needs of clients and prospects in the fast-paced digital asset economy.”
When asked about the benefits of digital assets for both institutions and people, Borel described crypto as a “appealing alternative” to “low interest rates and a low rate of return on investment.”

Guido Buehler, CEO of SEBA Bank, estimated in January that Bitcoin (BTC) may reach $75,000. This may occur as institutional funds pour into cryptocurrencies. According to Buehler, asset managers are scouting for the optimal time to invest in Bitcoin.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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