June 21 (Cointime) - Former Barclays CEO Bob Diamond has called for the cryptocurrency industry to embrace regulation in order to fully realize the potential benefits of digitalization and cryptocurrencies.

He praised mainstream financial institutions such as BlackRock for their growing involvement in the sector, but also highlighted the persistent regulatory ambiguity that remains a key hurdle and risk factor for industry participants and investors.

Diamond also expressed confidence in the Federal Reserve's ability to handle inflation and dismissed the idea of a looming recession, instead suggesting that the economy may experience a prolonged period of sluggish growth as businesses and consumers adjust to higher interest rates.