How a little-known data standard could spell the end of crypto’s ‘outlaw roots’

ARTICLE – DL NEWS

By Joanna Wright, 2nd November 2023

WHAT YOU’LL LEARN

• Crypto just quietly took a major step to becoming more like traditional finance.
• An update to a data standard known as the ISIN was unveiled this week that could speed up Wall Street’s crypto land grab.
• However, it’s just the first step to make the unruly sector more like old school trading.

Bitcoin may have started out as an alternative to traditional finance, but cryptocurrencies are rapidly gaining more interest from old-school industry stalwarts.

However, financial giants like BlackRock and JPMorgan have been held back by a lack of regulatory clarity, as well as ways to merge the worlds of decentralised and traditional finance.

That may be about to change. An update to a data standard known as the ISIN, or International Securities Identification Numbers, that was unveiled this week could speed up Wall Street’s crypto land grab and make digital assets more like traditional finance.

“While probably inevitable, there’s a certain irony that the future of crypto looks increasingly tied to TradFi,” regulation expert Sean Tuffy told DL News. “With each development like this, crypto strays a little further from its outlaw roots.”

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