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Commenting on HSBC's decision to blacklist MicroStrategy's stock for investing in bitcoin, Paolo Ardoino, CTO at Bitfinex, said:
"HSBC’s decision to blacklist Microstrategy’s stock for investing in bitcoin is a regressive step that seems to try to turn back the clock on technological innovation. Instead of refusing to participate in products relating to virtual currencies, HSBC should instead focus on delivering optimal services to its customers, many of whom pay high fees and interest rate charges on the bank's loans and credit card products. In fact, it is blockchain technology’s capacity -- by virtue of removing intermediaries -- that can enhance levels of inclusion, accessibility and transparency in financial products."
