BlackRock CEO Larry Fink Warns of US Lagging Behind in Crypto and Capital Markets Innovation

BlackRock CEO Laurence Fink says that developed markets, including the US, are lagging behind in financial innovation, leaving the cost of payments much higher. Fink believes that crypto needs regulation given the elevated risks involved with the nascent asset class, but he says digital asset technology has the potential to transform financial markets. He also notes that the tokenization of asset classes offers the prospect of driving efficiencies in capital markets, shortening value chains, and improving cost and access for investors.