Former head of J.P. Morgan's blockchain arm is no longer on Wall Street. But the former insider says major banks like her former employer could get into the cryptocurrency business imminently.
"I think it's coming sooner than people probably think," Amber Baldet, Former head of J.P. Morgan's blockchain arm told CNBC's "Power Lunch" Friday. "But even where the will is, the legal and regulatory framework is challenging."
Despite record investor profits from bitcoin's 1,300 percent rise last year, most banks have stayed away. Goldman Sachs is reportedly moving ahead with plans to set up the first bitcoin trading operation at a Wall Street bank.
https://www.newsbtc.com/2018/05/18/amber-baldet-former-jpmorgan-exec-says-banks-will-start-trading-crypto-soon/
https://www.cnbc.com/2018/05/18/banks-could-start-trading-crypto-soon-says-fmr-jpmorgan-executive.html
Analyst Says Cryptocurrency Trading Will Be Dominated by Wall Street
Barclays Plc, one of the largest banks in the UK, has recently announced it is adhering to cryptocurrency trading in response to demand from customers. The move follows Goldman Sachs’ lead while many within the financial services industry are still figuring out their position on cryptocurrency as a trading instrument.
https://www.newsbtc.com/2018/04/18/analyst-says-cryptocurrency-trading-will-be-dominated-by-wall-street/