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Report: Citi finds less risky way to invest in cryptocurrency

Citigroup Inc.'s newly created digital asset receipt, or DAR, will allow customers to invest in cryptocurrencies without actually owning them, Business Insider reported, citing people privy to the plans.

The DAR would work similar to an American depositary receipt, which allows U.S. investors to own foreign stocks that do not trade on the country's exchanges, according to the report. The proposed structure will place cryptocurrencies within existing regulatory regimes.

The bank has started reaching out to potential partners but it is unclear when the project will launch, the media outlet noted.