Yet there are signs that greed has weakened their resolve and some have begun to form tentative linkages. A number of derivative products pertaining to VCs have recently been launched. There is rising activity in euro at VC exchanges and some jurisdictions are falling over each other to issue licences to largely unregulated platforms and exchanges in a misplaced competitive race.
What happens if this trend continues and VCs become more commonplace as settlement assets in some niches of financial markets? What if credit institutions start developing larger exposures to these assets? What if retail investors take out mortgages to buy VCs?