Add Coinbase to the List of Crypto Stocks HSBC Won’t Touch

[Tanimariya]

An HSBC representative said the bank has “limited appetite to facilitate products or securities that derive their value from virtual currencies.”
While Wall Street takes stock of Wednesday’s direct listing of cryptocurrency giant Coinbase, some buttoned-up U.K. banks will likely be avoiding COIN stock because of lingering worries about crypto’s role in money laundering and criminal activity.

A prime example is HSBC, which made headlines recently by banning customers from buying shares in MicroStrategy, a company holding large amounts of bitcoin (BTC, -2.13%) on its balance sheet.

Asked if HSBC would also be avoiding Coinbase’s newly listed COIN stock, HSBC Corporate Media Relations Manager Ankit Patel said:
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