Howard Lutnick says banks want to transact in BTC as a new asset class but are being held back the existing requirements of U.S. regulators.
"That's why they don't hold it. But if the regulatory environment was good, you will see all the traditional financial companies go head first into bitcoin," he said. Cantor Fitzgerald CEO Howard Lutnick has said traditional financial companies"want to transact in bitcoin" as a new asset class but are being held back by the existing requirements of U.S. regulators."If a bank were to hold your bitcoin, they would have to set aside their own money equal to that amount, sort of 'in jail'. That's why they don't hold it.
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