Summary
Pritchard warns that lowering standards in the crypto market could make it vulnerable to money laundering, damaging market integrity and confidence. Building and maintaining trust is crucial for the success of crypto firms.
Key Points
1. Lower standards in the crypto market could potentially lead to abuse by criminals seeking to launder illegally obtained funds, which would damage market integrity and financial market confidence.
2. Building and maintaining trust is crucial for the success of cryptocurrencies and crypto firms in the long run.
3. Upholding high standards and regulations in the crypto market is essential for safeguarding against illicit activities and maintaining trust among investors and users.