RATE Group | Bitcoin Leads Cryptocurrencies Lower; Barclays Cuts Banking Services to Coinbase By Inve…
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Bitcoin Leads Cryptocurrencies Lower; Barclays Cuts Banking Services to Coinbase By Inve…

14 Aug Bitcoin Leads Cryptocurrencies Lower; Barclays Cuts Banking Services to Coinbase By Inve…

Posted at 14:43h in Cryptocurrency News by

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© Reuters.

Investing.com – Cryptocurrencies overall headed lower on Wednesday with bitcoin leading the decline.

Although not a directional mover, sector headlines were concentrated on the fact that Barclays (NYSE:) has reportedly decided to to the cryptocurrency exchange Coinbase.

The banking services relationship between Barclays and Coinbase began in March of last year and allowed the exchange’s users to purchase cryptocurrencies with pounds and withdraw their funds, according to the Reuters report.

Barclays declined to comment on the reasons for the decision in response to an inquiry from the news agency.

Global banks have been reluctant to do business with cryptocurrency exchanges due to concerns that digital coins are being used for money laundering.

Coinbase had indicated that the original agreement with the British bank had hit snags as the exchange needed to prove that it had systems in place to ensure that it could avoid…

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