Ron Biscardi, CEO and co-founder of iConnections, said comprehensive U.S. cryptocurrency regulations could trigger a major influx of institutional capital into Bitcoin and other digital assets. He said institutional perceptions have changed fundamentally over the past five years, with Bitcoin now broadly recognized as a legitimate asset class. Biscardi attributed the limited flow of large-scale capital mainly to U.S. regulatory uncertainty, saying pension funds, sovereign wealth funds and large foundations require a strong legal framework before making significant investments. He also pointed to custody and security concerns, including the recent Binance attack, as important obstacles. While cryptocurrency funds are meeting frequently with institutions, that interest has not yet produced billions of dollars in investment. Biscardi said greater participation by established financial institutions such as Goldman Sachs, Morgan Stanley and JPMorgan in cryptocurrency custody could strengthen confidence, but regulatory clarity would need to come first.