Bitcoin Leads Cryptocurrencies Lower; Barclays Cuts Banking Services to Coinbase By Investing.com

© 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 money laundering.

Total cryptocurrency market capitalization decreased to $281.84 billion by 9:12 AM ET (13:12 GMT), compared to $288.31 billion a day earlier.

led declines in the sector, falling 5.9% to $10,623.4, on the Investing.com Index. Bitcoin is the largest digital currency by market capitalization, equivalent to approximately 67% of the total market.

In other cryptocurrency trading, lost 1.8% to $206.09 by 9:18 AM ET (13:18 GMT) and declined 1.4% to $0.29406.

, the fourth largest altcoin, broke the general trend, holding steady at $338.72.

meanwhile traded down 3.3% to $83.062.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Crypto Destroyer

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.