State Street exec calls for stronger security, legal frameworks in crypto

The cryptocurrency market must strengthen its security and legal regulatory frameworks in the wake of recent DeFi hacking incidents, said Angus Fletcher, head of digital assets at U.S. asset management firm State Street. Speaking at the Consensys 2026 event, he stressed that the industry urgently needs to develop solutions before trillions of dollars in real-world assets (RWA) flow on-chain. "From an institutional perspective, interoperability between blockchains must be clearly defined, and we need to know how legal ownership and rights are established when tokens move between different chains," Fletcher explained. Other industry participants, including MORPHO, also cited enhanced security due diligence and resolving uncertainties in accounting regulations as key requirements for institutional entry.