Blockchain for Banking Capital markets News

EY blockchain survey: banking faces regulatory barriers

EY
A recent poll of senior finance and technology professionals at EY’s Global Blockchain Summit in New York returned some interesting results.
Regulation
Asked what the biggest barriers to widespread adoption were, the responses were: regulatory uncertainty (61%), integration with legacy systems (51%), and a lack of understanding of blockchain’s capabilities (49%). The specter of regulation has always hung over cryptocurrencies and blockchain technology. Multiple regulatory bodies could have authority over the industry resulting in a lack of clarity. Those agencies include the IRS, the SEC, and the CFTC.

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