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UBS Warns Employees on Possible Tighter Crypto Trading Rules

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UBS Group AG may require staff to seek approval before trading cryptocurrencies in their personal accounts, bringing its policy on whipsawing virtual money into line with its rules on dealing other securities.

“At present the Global Policy on Personal Investment is silent on cryptocurrencies and thus disclosure and pre-clearance is not required” in most cases, UBS told staff this week in a memo seen by Bloomberg and confirmed by the Zurich-based lender. The bank is considering implementing “additional rules and requirements," including an obligation for staff to seek permission before trading, the memo said.