Bitcoin Investment Trust Banned By Bank of America Merrill Lynch

News | January 4, 2018 By:

Bank of America Merrill Lynch has reportedly banned its clients from investing in Bitcoin Investment Trust (GBTC). The news comes via a memo from the bank last December which was seen by Reuters.

According to the memo, dated December 8, the bank stopped approving new orders for the Bitcoin Investment Trust because of concerns about the “suitability and eligibility standards of this product.” The memo was sent to roughly 17,000 brokers at Merrill Lynch and Merrill Edge,


Singapore Central Bank Mulls Instant International Settlements

Blockchain, FinTech, Group, Innovation, Investing, News, Regulation | August 2, 2017 By:

The Monetary Authority of Singapore (MAS) plans to use distributed ledger technology to instantly connect central banks around the world.

Called Project Ubin, the MAS plan is to make any institutionally crucial or high-value transactions settle instantly. The system would executive smart contracts using tokenized international currencies and keep the transactions private using zero-knowledge proofs and Intel’s security.