Odaily Planet Daily News Howard Lutnick, CEO of Cantor Fitzgerald, a US financial services company, said that traditional financial (TradFi) companies want to trade Bitcoin as a new asset class, but are restricted by existing US regulatory requirements. Lutnick posted on the social platform X: "If banks hold customers' Bitcoin, they must retain an equal amount of their own funds as 'margin'. This is why they don't hold Bitcoin. But if the regulatory environment is favorable, you will see all traditional financial companies scrambling to enter the Bitcoin field." As CEO of Cantor Fitzgerald, Lutnick revealed that the company has "a lot" of Bitcoin and plans to launch a $2 billion Bitcoin financing business in June this year to provide leverage for Bitcoin holders. The company has currently partnered with stablecoin issuer Tether to handle US Treasury transactions. Earlier news, Lutnick was recently selected by pro-cryptocurrency Republican candidate Donald Trump as chairman of his presidential transition team. (Coindesk)

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