While there have been some small steps forward, the worlds of crypto and traditional finance are still oceans apart.
There have been some hard-fought victories to better integrate cryptocurrencies and traditional finance.
A case in point: the approval of the first spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States on Jan. 10.
The U.S. Securities and Exchange Commission’s (SEC) approval of the ETFs may herald further capital inflows and greater institutional participation in the crypto market, but digital assets have yet to make inroads into the banking sector and the vast majority of financial institutions.
