Sunday, February 5, 2023
[email protected]
 Fintech Zoom
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Real Estate
    • Entertainment
    • Health
    • Cars
    • Famous People
    • Near Me
    • Life
    • Weather Tomorrow
  • ABOUT US
    • Why Fintech Zoom?
    • Advertise with Us
    • Fintech Zoom Logo
    • FintechZoom PRO
No Result
View All Result
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Real Estate
    • Entertainment
    • Health
    • Cars
    • Famous People
    • Near Me
    • Life
    • Weather Tomorrow
  • ABOUT US
    • Why Fintech Zoom?
    • Advertise with Us
    • Fintech Zoom Logo
    • FintechZoom PRO
No Result
View All Result
FintechZoom
No Result
View All Result

Wall Street will find ways to satisfy crypto envy

Alex Lowe by Alex Lowe
January 4, 2022
in Cryptocurrency News
0

Home » Wall Street will find ways to satisfy crypto envy

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly – RC2UNO93ID0I

Register now for FREE unlimited access to Reuters.com

WASHINGTON, Jan 2 (Reuters Breakingviews) – Banks are gearing up to get in on the crypto craze in 2022. That sets them up to wrestle with a host of issues that differ from their core business, from murky regulation to a market that operates 24 hours a day, seven days a week read more . Fights over profit and customers may also obscure other risks.

The value of digital currencies outstanding has tripled to more than $2 trillion since the start of 2020. Traditional U.S. banks currently can’t trade such assets themselves, but their customers do and many bankers want in, despite skepticism from luminaries like JPMorgan (JPM.N) boss Jamie Dimon who dismissed bitcoin as “worthless” as recently as October. Dimon’s bank, Goldman Sachs (GS.N), Morgan Stanley (MS.N) and others are helping wealth-management clients gain exposure through crypto derivatives. Those trade on regulated exchanges, one step removed from the underlying digital coins. But that’s little more than dabbling.

What would really open the flood gates for the largest banks would be the regulatory nod to get directly involved in the custody and trading of digital assets. Among other things, that would help stop lucrative hedge fund clients from going elsewhere for their crypto needs.

Register now for FREE unlimited access to Reuters.com

But banks, constrained by regulations, can’t predict where watchdogs will end up. While the Federal Deposit Insurance Corp has expressed openness to increased crypto exposure, the Office of the Comptroller of the Currency has sounded skeptical and the Securities and Exchange Commission has essentially promised a crackdown if it ends up in charge of crypto .

Take bitcoin-backed loans, for example, one area that is being explored by several firms including Goldman. Banks need to know if regulators will permit such products. Bankers also have to figure out how to structure them if they can’t own the collateral directly.

The always-open crypto markets add another dimension. Banks are used to fixed hours of trading in equities, say. Many securities transactions take time, sometimes days, to settle, whereas digital currencies operate in seconds. Moreover, the whole point is that trades cannot be unwound, even if there are mistakes. Such features increase the importance of third-party digital custodians to help manage risk, and many of those entities are not, as yet, either regulated or transparent.

These are known unknowns. An even bigger danger could be unknown unknowns. Those range from the reliability of the decentralized confirmation processes attached to cryptocurrencies to the risk of hacks or errors that can’t be righted. Wall Street’s fear of missing out shouldn’t obscure the risks of getting in.

RelatedPosts on FintechZoom

Blockchain technology works as a base for cryptocurrencies

5 Best Digital Shiba Inu Wallets for Safe Keeping

Hot vs. Cold Storage – Where to Store Bitcoin and Altcoins

Today the Market is Looking to Cryptocurrencies as Commodities.

Ethereum’s long-awaited upgrade, Ethereum 2.0, has finally arrived and is falling -3.2%

Top 10 Crypto Trading Apps on the Market

Follow @GinaChon on Twitter

(This is a Breakingviews prediction for 2022. To see more of our predictions, click here.)

Register now for FREE unlimited access to Reuters.com

Editing by Richard Beales and Amanda Gomez

Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

Stock Market, Latest News on C N N.

Tags: AMERSANLINSBISVBISV08BitcoinBNKSBNKS1BRVBRVFBSVCCLMCMPNYCRYCURCryptocurrencyDBTFINFINSFINS08FRXfundINVBISINVBRINVBR1INVMINVS08NAMERPUBLREGSrepTOPNWSUSWLTHWLTH08XDNPXPCOXPMFXRNP
Alex Lowe

Alex Lowe

Alex is a financial writer covering forex. He is a expert financial journalist whose credits include Bloomberg, FT of London, Chicago Tribune. Contact: [email protected]

Related Posts

Crtypo Tezos - FintechZoom

Blockchain technology works as a base for cryptocurrencies

October 11, 2022
Shiba inu coin currency | FintechZoom

5 Best Digital Shiba Inu Wallets for Safe Keeping

September 21, 2022

Hot vs. Cold Storage – Where to Store Bitcoin and Altcoins

September 21, 2022

Today the Market is Looking to Cryptocurrencies as Commodities.

September 19, 2022

Ethereum’s long-awaited upgrade, Ethereum 2.0, has finally arrived and is falling -3.2%

September 15, 2022

Top 10 Crypto Trading Apps on the Market

August 31, 2022

Why Gaming Is Pushing the Adoption of Crypto

August 30, 2022

More than 50% of Bitcoin addresses are still registering profit. Is hodling postponed?

August 24, 2022

How to Buy Bitcoin: A Guide for New Crypto Investors

August 19, 2022
Next Post
Marketmind: Party like it’s 2022

Marketmind: Party like it's 2022

LIVE MARKETS London takes off with travel and leisure

French and Benelux stocks-Factors to watch Jan 4

Asian stocks hold strong in upbeat start to 2022

Asian stocks hold strong in upbeat start to 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Advertise
  • Careers
  • Loans
Call us: + 1 917 9939840

© 2020 FINTECH ZOOM - WORLD FINANCE

No Result
View All Result
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Real Estate
    • Entertainment
    • Health
    • Cars
    • Famous People
    • Near Me
    • Life
    • Weather Tomorrow
  • ABOUT US
    • Why Fintech Zoom?
    • Advertise with Us
    • Fintech Zoom Logo
    • FintechZoom PRO

© 2020 FINTECH ZOOM - WORLD FINANCE