Cryptocurrency, despite the enthusiasm of its ardent supporters, has struggled to gain mainstream respect. It’s been derided by bankers and questioned by politicians, most recently by the president himself.
But nonetheless, crypto continues to creep toward legitimacy. France’s financial regulator is poised to approve several crypto-related companies and bring them into the regulated financial system, one of the first instances among major world economies. Somehow, we think the battle over regulating cryptocurrencies in the U.S. will be a tad more contentious.