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Isolation from traditional banking
Another significant concern is that cryptocurrency exchanges are only now discovering the best practices required to keep their trading infrastructure secure from potential harmful activity. As a result, many exchanges still have a high level of technical security breaches, as well as a lack of legal protection for the assets involved. This is one of the primary reasons that traditional financial institutions shun blockchain-based marketplaces.
So, what are the outcomes? Traditional banking institutions do not recognise cryptocurrencies as an asset class for the reasons stated above, which means they are unable to deliver crucial financial services to half of the world's population.
Last modified 3mo ago