The British government regulatory bitcoin requirements of Barclays Bank

The British government regulatory bitcoin requirements of Barclays Bank

Barclays CEO Ashak Vaswani (AshokVaswani) recently said in an interview with the CNBC, the bank has the financial management and administration behavior (FCA) to communicate and discuss how to implement safety supervision bitcoin.

The news, Barclays Bank (Barclays) and British regulators will bitcoin “into” the financial technology industry has made positive dialogue. Ashak Vaswani told CNBC, Barclays (Barclays) British regulators financial behavior authority had been with oversight of the financial industry (FCA) meeting to discuss bitcoin regulatory issues.

Although the meeting was devoted to the block chain, but soon turned to bitcoin and other encryption currency. Ashak Vaswani told CNBC, “I actually went to FCA, we will talk about how to make the regulatory bitcoin..”.

Although the Barclays Bank bitcoin market has an obvious interest in CEO, but Ashak Vaswani seems to be cautiously optimistic attitude towards bitcoin. “Obviously, this is a new field, we must be careful of the arena a. We are working through it.”

The strategy of FCA CEO ChrisWoolard has recently reiterated that, enterprises and institutions must take a cautious attitude in dealing with the value of security, but also stressed that FCA did not take the forbidden attitude in the bitcoin and block chain technology.

“We do not prohibit the regulated firm engaged in digital currency transactions, nor prohibit banks provide banking services to deal with the currency block chain technology company. I am not saying that we think that digital currency itself is a bad thing, but we do have to be careful. “

In announcing the Barclays Bank and FCA after the talks, Ashak Vaswani expatiates on the bank’s future plans, the plan would allow banks to further into the bitcoin market. Last year, Barclays and social payment application Circle cooperation, which helps to provide funding through the messenger application, and to support bitcoin transactions.

Barclays Bank is one of the more relaxed regulatory mechanism advocated to provide bitcoin market of large financial institutions. Although the Fintech industry is under pressure, but many critics predict that the government will develop a comprehensive legal framework, which aims to provide unique challenges and opportunities for bitcoin and other virtual currencies.

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