Mitch Steves, an RBC analyst covering chipmaker stocks, can’t write in detail about specific digital coins. Crypto falls in a regulatory grey area, so most sell-side analysts steer clear.This is ostensibly just another regulation sucking all the fun out of life for sell-side analysts. Their work is being forcibly commoditised by new EU rules, and the frothiest market in the world is off limits!And yet.Our guy at RBC published “The tril Bull Case” — not just a bullish piece, mind you, the bullish piece — for “the Crypto-Currency space.”Steves also included a photo of a home-built digital currency “mining rig” in his 3 Jan note, metaphorically shaking his fist into the mighty gale of Mifid II the day it made landfall:He was able to write such a note because crypto creation requires
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Mitch Steves, an RBC analyst covering chipmaker stocks, can’t write in detail about specific...