(disclaimer: I project managed the Ethereum launch in 2015) The big problem with crypto is legal, and that problem breaks up into four categories. 1) legality

(disclaimer: I project managed the Ethereum launch in 2015) The big problem with crypto is legal, and that problem breaks up into four categories. 1) legality of tokens of various kinds (are they securities? who can do what with tokens?) 2) KYC AML CTF PEP OFAC SOF issues: governments want to track who is who when money moves and many governments do it in many different ways 3) Taxation frameworks, and international harmonisation of taxation frameworks 4) Enforceability of contract when smart contracts are in the mix None of these are technology problems. All of them are problems which the legacy financial system solves with huge numbers of staff wasting their lives pushing the same paperwork for every single transaction, while the industrial-scale money laundering happens inside of fully regulated financial institutions which go rotten and print money until they get caught landed with symbolic fines after laundering tens of billions of drug money. If governments had made their mind up about *how they were going to regulate crypto* then all of this would have been sorted out years ago and we would have a simple, stable, efficient set of new financial rails, much like a re-invention of the credit card payment system or the SWIFT bank transfer system. But because of a failure to give clear guidance for 8 years the technology is a swamp of unregulated and poorly regulated projects, because when the actual professionals show up they can't figure out what the law is, because the law hasn't been written. MICA in the EU starts to provide the industry the necessary clarity to actually obey the (clearly written) law and mainstream into the regular world of commerce. In the UK, see the UK Jurisdiction Taskforce which is disambiguating the crypto mess from the Judiciary on out https://lawtechuk.io/ukjt https://lawtechuk.io/ukjt And also the upcoming Law Commission work https://www.lawcom.gov.uk/project/digital-assets/ https://www.lawcom.gov.uk/project/digital-assets/ (warning: contains 550 pages of UK government legal analysis) My company builds on the UK framework to enable buying and selling of physical assets across 170 jurisdictions on the same legal framework: http://mattereum.com http://mattereum.com Anyway, it's a mess, but it's not the "crypto industry's" fault -- government's failure to establish clear legal rules has made institutional adoption by grown ups impossible. As we get regulatory clarity it all goes forwards again!