The price/value of a
BTC went from zero to about $3k without regulation, leading the author to assert without evidence: "But governmental acceptance would be required for this to further accelerate".
Apparently for Morgan Stanley there is some price point after which regulation is needed. Who knew? The NY bit-license of course comes to mind as a compelling counter-example.
Not much room for Morgan Stanley in a crypto-based economy, even if they do like private blockchains.
I call this a FUD piece. Such FUD seems to come in waves from time to time - bullish indicators for crypto imho, if you can keep your head despite all the messaging. Opinions and advice offered may or may not match any underlying facts.