Tuongvy Le says transparent standards could make it harder for banks to debank crypto
"Crypto should be paying attention to this. As an industry, we could either end up loving it or hating it. Obviously having a transparent set of standards could make it harder for banks to debank crypto companies, something we dealt with for a long time based on this idea of reputational risk"
"On the other hand, having certification standards that are really conservative or leave a lot of room for interpretation could actually end up formalizing derisking in a way that's harder to change. So what the actual standards end up being is going to matter a lot in general, but especially for crypto"
"I personally like the efficiency argument for this. I've lived the diligence process firsthand as a bank GC, and it is not fun. So I think standardized diligence could solve a very real problem"