The President of UBS Bank, the world's largest wealth manager, Axel Weber, said Jan. 23 The bank's clients invest in cryptocurrencies, though it makes the distinction between institutional clients and retail clients when they discuss the question.

Speaking at CNBC at the World Economic Forum (WEF) in Davos, Weber enter the cryptographic markets, as opposed to helping retail customers do the same thing:

"He There are institutional clients and they want to invest in (Bitcoin) – they are adults, I mean they know what they do, they have the ability to judge that risk. "

On the other hand, according to Weber, retail customers (individuals) – often referred to as "Main Street investors" – must be " protected ed " from the time. invest in the crypto-market, because of their alleged ignorance of the products.

Referring to banks' responsibility for selling complex financial products to customers prior to the 2008 economic crash, Weber says he wants to avoid a repeat scenario and deflect liability if the crypto market sees a similar crash :

"If a retail customer is assigned in the future, the question will be who was the bank that sold them"

In January this year, the North American Association of Securities Administrators (NASAA) and the United States Securities and Exchange Commission (SEC) have warned investors in Main Street (individuals) against investing in Cryptocurrencies and Initial Coin Offeringings (ICO) One of NASAA's main reasons for this warning was that individual investors were not sufficiently informed about the products. ts in which they potentially invested.