Merrill Blocks Bitcoin in Shock Move

Written by:
C Costigan
Published on:

If you are representing Merrill Lynch, you cannot place your clients with anything related to Bitcoin.

Bookmaker accepts most crypto-currencies

Fmr. Commissioner of the U.S. Commodity Futures Trading Commission Bart Chilton appeared on Fox News Thursday to discuss Merrill Lynch’s decision to  block bitcoin trading as well as companies changing their name in association with blockchain.

Chilton says, while this could be seen as a negative to Bitcoin, it is more of a negative to Merrill Lynch.

"I know they are trying to protect investors and I get that but a lot of investors want to get into digital," Chilton said.  "There are now these 17,000 investors at Merrill who can't make the transaction for their customers."

Chilton points out that a lot of people in the institutional world have been afraid of digital currencies, "and for pretty good reason".

But, he adds, "Smaller investment advisors are starting to take it on."

Watch below for more...

video News

Visa CEO Talks Bitcoin

Visa CEO Talks Bitcoin

Among the topics covered by Visa CEO Alfred Kelly on CNBC: The recent tax cuts, global transactions and, of course, Bitcoin.

Bitcoin Vs. Stocks: Worth The Volatility?

CNBC's Dominic Chu takes a look at the volatility in both equities and cryptocurrencies markets, and which risk scenario could be better for investors.

Patriots Super Bowl 52 Path The 'Easiest Ever'

Since 1990, no team with a bye has ever faced two weaker opponents than New England's pair of Tennessee and Jacksonville, so writes Neile Paine of

Bitcoin is 'Definitely Not Dead' Despite Losing 50 Percent off All-Time High

Bitcoin is 'Definitely Not Dead' Despite Losing 50 Percent off All-Time High

The world's largest cryptocurrency, Bitcoin, dived as low as $9,199.59 Wednesday morning, according to CoinDesk.  This was around 50% off its all time high of $19,783.21 that occurred only one month ago.

Doug Polk: Tai Lopez Needs to Stop Selling Me His Bitcoin Course

Tai Lopez is famous for hanging out in his garage, showing off Lamborghinis, reading thousands of books, chilling with celebrities, and aggressively marketing his courses on YouTube.