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Schwab to Launch Bitcoin Trading, Directly Targeting Coinbase Users
Charles Schwab CEO Rick Wurster confirms the firm will launch Bitcoin trading "sometime soon," directly challenging Coinbase as crypto adoption grows among Schwab clients.
Once banks & brokerages get involved with cryptos, other crypto regulations may come sooner.
Note that Coinbase/COIN is a combo crypto operation: exchange + broker-dealer + custodian for cryptos. This is something NOT allowed in the non-crypto world.
So, either ALL could try to become combo crypto players, or COIN may have to split up in 3 separate firms or create 3 distinct subsidiaries. So long as the crypto world was a separate world, it could make its own rules as there were no other rules. But now that mainstream financials are jumping into the game, this issue may be forced sooner.
I think it's great if brokers offer BTC or ETH or another 'major' coin as a legitimate investment offering .... bit let the Coinbases and RobinHoods of the world offer the zillions of worthless 's*itcoins' for people to play with. Depending on how it's setup and what they chare, I probably wouldn't mind having my BTC kept @ Schwab, but I'm not in a rush to transfer it from my BTC broker -- who btw only offers BTC.
Comments
Once banks & brokerages get involved with cryptos, other crypto regulations may come sooner.
Note that Coinbase/COIN is a combo crypto operation: exchange + broker-dealer + custodian for cryptos. This is something NOT allowed in the non-crypto world.
So, either ALL could try to become combo crypto players, or COIN may have to split up in 3 separate firms or create 3 distinct subsidiaries. So long as the crypto world was a separate world, it could make its own rules as there were no other rules. But now that mainstream financials are jumping into the game, this issue may be forced sooner.
I think it's great if brokers offer BTC or ETH or another 'major' coin as a legitimate investment offering .... bit let the Coinbases and RobinHoods of the world offer the zillions of worthless 's*itcoins' for people to play with. Depending on how it's setup and what they chare, I probably wouldn't mind having my BTC kept @ Schwab, but I'm not in a rush to transfer it from my BTC broker -- who btw only offers BTC.