Merrill Blocks Bitcoin in Shock Move

Written by:
C Costigan
Published on:

If you are representing Merrill Lynch, you cannot place your clients with anything related to Bitcoin.

Bookmaker accepts most crypto-currencies

Fmr. Commissioner of the U.S. Commodity Futures Trading Commission Bart Chilton appeared on Fox News Thursday to discuss Merrill Lynch’s decision to  block bitcoin trading as well as companies changing their name in association with blockchain.

Chilton says, while this could be seen as a negative to Bitcoin, it is more of a negative to Merrill Lynch.

"I know they are trying to protect investors and I get that but a lot of investors want to get into digital," Chilton said.  "There are now these 17,000 investors at Merrill who can't make the transaction for their customers."

Chilton points out that a lot of people in the institutional world have been afraid of digital currencies, "and for pretty good reason".

But, he adds, "Smaller investment advisors are starting to take it on."

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