Get your crypto house in order, old guard tells Davos debutantes

FILE PHOTO: Souvenir tokens representing cryptocurrency Bitcoin plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

DAVOS, Switzerland (Reuters) - Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum's old guard.

"The future of crypto, I'm sorry to say, looks regulated to me," said Nela Richardson, senior vice president and chief economist for human resources software provider ADP. She said she thinks central banks will step in to provide oversight.