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Citi's Corbat envisions governments getting into digital currencies
By: Stephen Alpher, SA News Editor
Nov. 9, 2017 8:28 AM ET|

"You won’t hear us be dismissive in terms of the nascent technology because it’s real and there is something there," says Citigroup (NYSE:C) CEO Michael Corbat, talking cryptocurrencies at a Bloomberg conference.

His bank is experimenting with one of its own, dubbed "Citicoin."

Governments, he says, aren't going to be happy with private actors disrupting their attempts at data and tax collection. He thinks it likely governments at some point introduce their own digital currencies.

In other bank news, Corbat says Citi won't charge clients for fixed income research when the EU's MiFID II rules kick in next year.

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