Published On: Mon, Jun 26th, 2017

Barclays Bank Confirms Talks With Regulators to ‘Bring Bitcoin Into Play’

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British multinational bank Barclays has confirmed they have been in talks with UK financial regulators, the Financial Conduct Authority (FCA), to see how they can “bring Bitcoin into play.”
Consulting Regulators and Fintech Firms
Speaking with CNBC, the bank’s UK chief executive, Ashok Vaswani, confirmed that the company had been in talks with both regulators and fintech firms in order to determine how the bank can safely bring cryptocurrencies to their customers.
While the conversation with CNBC did revolve around Bitcoin, in particular, it is important to note that Vaswani made it clear that they were looking at blockchain technology as a whole.

According to Vaswani:
We have been talking to a couple of fintechs and have actually gone with the fintechs to the FCA to talk about how we could bring, the equivalent of bitcoin, not necessarily bitcoin, but cryptocurrencies into play.
He also discussed the importance of caution with regard to cryptocurrency integration:
[It’s] obviously a new area we’ve got to be careful with […] We’re working on it, [it’s] not ready for prime time, we’ll get there soon.
Not Barclays’ …

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