Hidden Barriers May Hinder the Next Major Advancement of Cryptocurrency: A Perspective from the Legal Director Ri

On August 7th, Stuart Alderoty – Legal Director of Ripple and President of the National Electronic Money Association (NCA) – shared in Fast Company magazine that the biggest barrier to the next stage of development of electronic money is not price volatility or high-profile scams, but rather the lack of public understanding. Awareness – An Invisible Yet Dangerous Barrier According to the results of the Crypto Confidence Pulse 2025 survey conducted by NCA in collaboration with Harris Poll, nearly 90% of Americans who do not own electronic money reported that they are not confident in their knowledge of buying, trading, or using this type of asset. Notably, 49% cited this as the main reason for staying out of the market. Interestingly, nearly 25% of those who do not currently own crypto say they would consider using it if they could pay for goods and services with it – which is already possible at this time. 5 Groups of People Who Do Not Own Crypto and Their Characteristics NCA's research classifies non-market participants into 5 main groups: Curious ( – Curious people ) – Interested, have discussed about crypto and 42% are likely to buy this year. Trendwatchers ( – Trendwatchers ) – Want to see real-life examples of crypto applications. Skeptics ( – Skeptics ) – Only accept if there are safety commitments and clear oversight. Traditionalists ( – Traditionalists ) – Prefer banks and credit cards over new technologies. Cautious ( – Cautious people ) – Feel they are 'late' to the trend, but are willing to learn from trusted sources. Trust – The Key to the Explosion 43% of respondents are concerned about the safety of crypto, and 36% do not trust trading platforms. Alderoty emphasized: "Electronic Money has long been misunderstood as a system that 'does not require trust'. But in reality, its acceptance depends on trust: People need to understand the technology before trusting it – and they need someone they can rely on to guide them." He believes that educating users must be tailored to each target group, for example: Practical guide on how to set up an electronic money wallet. Illustrates use cases for crypto payments in daily life. Provides clear policy guarantees and legal framework. The Role of the Legal Framework Alderoty calls for a synchronized regulatory framework, built collaboratively between the state and the industry, to both protect users and not stifle innovation. According to him, if the knowledge gap is narrowed through transparent and contextual education, hesitance will turn into widespread acceptance – making electronic money a more inclusive financial tool for everyone.