Barclays Can Open Crypto Trading Desk

Bank is gauging how interested clients of the bank would be in a crypto-specific trading desk
17 April 2018   447

Barclays, the second-largest bank in the U.K. by assets, is weighing the launch of a cryptocurrency trading desk. This is reported by Coindesk.

A source familiar with the situation told that the bank assesses how much its customers might be interested in such a proposal. 

At present, the bank does not have definite plans for trading crypto-currencies, the source said, adding that the majority, if not all banks are considering such a possibility.

The source added that Barclays is also evaluating the reasons for providing access to trading cryptocurrencies to all its customers, including institutional investors.

Barclays has no plans at this time to build a cryptocurrency trading desk. We constantly monitor developments in the digital currency space and will continue to have a dialog with our clients on their needs and intentions in this market going forward.
 

Andrew Smith

Spokesman, Barclays

Other banks have also previously addressed this issue, the most notable of which is probably Goldman Sachs. Rumors that Goldman could provide its clients with the opportunity to trade cryptocurrencies appeared in December, but a week later the bank's CEO Lloyd Blankfein dispelled them, although he did not rule out that in the future his company might reconsider its position.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   82

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.