UBS CIO Says They Won`t Get Involved With Bitcoin
(WorldNews China)

Financial services giant UBS said they had no upcoming plans to get involved with bitcoin or other cryptocurrencies, according to CoinDesk. UBS Chief Investment Officer Mark Haefele said that a lack of government oversight and `critical mass` around cryptocurrencies is prohibiting Switzerland`s largest bank from entering the market in an interview with Bloomberg. Haefele also said the government could someday crack down on bitcoin and cited problems with its possible use for terrorism financing and money laundering, dampening any prospects for UBS to get more involved with cryptocurrency.`All it would take would be one terrorist incident in the U.S. funded by bitcoin for the U.S. regulator...