The institutionalization of digital assets means that cryptocurrencies will become more ingrained within the U.S. financial landscape, says Fitch Ratings. The degree of clarity of regulatory guidance and oversight for digital assets is an important consideration when assessing credit implications for banks entering the space. The permanency and utility of the digital asset industry has increased as the size of the cryptocurrency market, currently around $2 trillion, and number of retail and institutional investors have steadily risen. However, compliance risks are high for banks, including money laundering/terrorism ... (full story)