DBS CEO Casts Doubt on Retail Crypto Plan, Citing Regulators
- Regulators not comfortable with retail crypto trading: Gupta
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DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta said Singapore’s biggest bank won’t offer crypto trading for retail investors this year, citing technological challenges and resistance from regulators.
Gupta said during the bank’s results briefing on Friday that while he would have liked to start the service this year, it’s taking a “little bit longer than expected” to put the technology apparatus together. In addition, regulators aren’t comfortable with cryptocurrency trading for retail customers, he said. DBS currently offers crypto trading only for accredited investors.