WellsFargo, the 4th-largest U.S. bank, shows interest in dealing with Bitcoin

Some of Bitcoin enthusiast Mike Caldwell's coins are pictured at his office in Sandy, Utah

The fourth-largest U.S. bank by assets has shown interest in dealing with a potential new Bitcoin economy, but regulatory uncertainty has deterred banks from offering services to virtual currency start-ups, the Financial Times said on Tuesday. Bitcoin, which unlike conventional money is bought and sold on a peer-to-peer network independent of any central authority, has grown popular among users who lack faith in the established banking system. Wells Fargo’s anti-money laundering chief, Jim Richards, has launched a group to examine how the bank might safely offer Bitcoin-related services or banking arrangements to virtual currency entrepreneurs, the Financial Times said, quoting people familiar with the matter.


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