Coinbase and Barclays Partnership Is No More

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Some partnerships are not destined to last long, but in the case of U.S.-based cryptocurrency exchange Coinbase and the London-based banking firm Barclays, things are coming to an end just shy of the half-a-year mark. Coinbase Says Goodbye to a U.K. Bank In a recent statement, the banking company announced that it would no longer provide financial services to the popular trading platform. The partnership initially began in March of this year and is ceasing after only five months. The U.K. is taking a rather strict approach to cryptocurrencies as of late, so this exit likely doesn’t qualify as “personal.” The nation, while examining ways to properly regulate cryptocurrency, has received suggestions from the Financial Conduct Authority (FCA) that crypto-based products should be banned, as they are too volatile and are therefore “unsuitable” trading opportunities for investors. Thus, the exit from the partnership could simply be in preparation for this.…

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