Cryptocurrency regulation needed to protect ill-informed consumers - R3's Charley Cooper

Charley Cooper, managing director at blockchain tech firm R3, said Tuesday that regulation is necessary for the cryptocurrency market to protect "ill-informed consumers" and to integrate crypto into overall financial markets. Speaking to CNBC, Cooper asserted that crypto oversight could consist of some rules borrowed from current financial regulations but will likely include some provisions crafted specifically for the industry. Commenting on retail traders, Cooper contended that many newbies were drawn by the prospects of high returns but don't often realize that they don't have the same protections investors in the stock market have. "What we're talking about is a group of people that are more and more drawn to crypto markets ... but they have no idea how those markets work," he said of retail consumers moving into the crypto space. Cooper also argued that as crypto becomes a bigger part of the overall financial system, regulation is needed