Barclays’ CEO Refutes Rumors The Bank Is Opening Crypto Trading Desk

Barclays’ CEO Jes Staley has refuted recent rumours that the UK bank will be opening a cryptocurrency trading desk, UK media platform Financial News reported May 1. During the bank’s annual general meeting, Staley cited potential compliance and regulatory barriers, saying:“Cryptocurrency is a real challenge for us because, on the one hand, there is the innovative side of it and wanting to stay in the forefront of technology’s improvement in finance… On the other side of it, there is the possibility of cryptocurrencies being used for activities that the bank wants to have no part of.”As Cointelegraph reported in mid-April, Barclays had reportedly conducted a preliminary assessment to gage whether client interest was sufficient to warrant setting up a dedicated desk. Staley did however say yesterday that the bank continues to help its clients to settle Bitcoin futures contracts that are being offered on derivatives exchanges such as CME Group…

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