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Citigroup planning crypto trading by issuing receipts


NEW YORK: Citigroup Inc. has developed a new mechanism for investing in cryptocurrencies such as Bitcoin, according to a person with knowledge of the plans.

The bank plans to act as an agent issuing so-called digital asset receipts, or DARs, to enable trading by proxy without direct ownership of the underlying coins, said the person, who asked not to be identified because the information isn't public. By falling within existing regulatory regimes, the structure could give investors a relatively safe method of trading in crypto.

Cryptocurrency , Banking

   

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