Bitcoin prices rose past $50,000 on Monday, after having
weathered a crackdown by Chinese authorities on domestic cryptocurrency mining
companies earlier this year, as mainstream adoption by corporations and the
wider public gathers pace.
Media outlet Coindesk reported earlier on Tuesday that Citi
is awaiting regulatory approval to begin trading Bitcoin futures on the Chicago
Mercantile Exchange, citing a source within the bank.
"Given the many questions around regulatory frameworks,
supervisory expectations, and other factors, we are being very thoughtful about
our approach," a Citi spokeswoman said in an email.
"We are presently considering products such as futures
for some of our institutional clients, as these operate under strong regulatory
frameworks," she added.
The bank was weighing the option of providing cryptocurrency
related services in May, according to a Financial Times report.
Business Insider reported in late July that JPMorgan Chase
will allow all of its wealth management clients access to cryptocurrency funds.
© Reuters
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