Cryptocurrencies
Banks Are ‘Very Far Away’ From Trading Crypto, Genesis CEO Says
- More likely to invest in startups or try derivatives products
- Banks are hesitant because of regulatory issues with Bitcoin
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Banks won’t be embracing Bitcoin with the same level of enthusiasm that individual investors have exhibited any time soon, the head of crypto prime brokerage Genesis Global Trading said, thanks to continued bearish sentiment from regulators on digital assets.
Addressing the Bitcoin faithful in Miami, Genesis Chief Executive Michael Moro said banks have so far been mostly limited to taking a hands-off approach to the sector such as investing in crypto startups or derivatives products.