Fintech upstart Stake has declared sharemarket brokers can either offer cryptocurrencies or “fall behind”, as a batch of ambitious neo-brokers race the Commonwealth Bank to add digital asset trading by the end of the year.
“Crypto is taking the world by storm and has established itself as a legitimate asset class. Investors are demanding it and brokers who are dragging their feet will fall behind,” Stake founder and chief executive Matt Leibowitz said. “It’s got to be taken into account that at this stage, one of the great challenges for everyone involved in investment is that cryptocurrency is not a financial product.”
for cryptocurrency exchanges, and warned that failure to bring about reform meant Silicon Valley would “determine the future of our payment system”.He said the government would consult on regulations for businesses that hold cryptocurrencies on customers’ behalf and provide advice by the end of this year.
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Source: FinancialReview - 🏆 2. / 90 Read more »