Citigroup is reportedly awaiting regulatory approval to start
offering bitcoin futures trading to its clients. “We are presently
considering products such as futures for some of our institutional
clients, as these operate under strong regulatory frameworks,” said
Citigroup.
Citigroup Awaits Regulatory Approval to Trade Bitcoin Futures
Citigroup Inc. is reportedly considering whether to offer its biggest clients trading in bitcoin futures, Bloomberg reported Tuesday.
“Our clients are increasingly interested in this space, and we are
monitoring these developments,” Citigroup was quoted by the news outlet
as saying. “Given the many questions around regulatory frameworks,
supervisory expectations and other factors, we are being very thoughtful
about our approach.” The bank added:
We are presently considering products such as futures for
some of our institutional clients, as these operate under strong
regulatory frameworks.
The publication further noted that the bank is awaiting regulatory
approval to begin trading CME bitcoin futures, citing a person familiar
with the matter.
In May, there were reports that Citigroup was contemplating launching
crypto services after seeing a “very rapid” accumulation of interest in
bitcoin across a broad spectrum of clients, including large asset
managers. In June, reports noted the bank had established a “digital assets group” within its wealth management unit, citing a memo to staff that had been seen.
At the end of May, Citigroup CEO Jane Fraser gave her testimony
on cryptocurrency before the Senate banking committee. She stated that
Citigroup was taking a “measured approach” to cryptocurrency as the bank
sought “to understand changes in the digital asset space and the use of
distributed ledger technology, including demand and interest by our
clients, regulatory developments and technology advancements.”
source link : https://news.bitcoin.com/citigroup-trade-bitcoin-futures-clients-increasingly-interested-in-cryptocurrency/
