Banks blocking accounts related with crypto

plenumetnormous

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Quote from: coinmgnet on January 03, 2018, 06:28:37 PM

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

Sooner or later banks won't avoid or segregate crypto or their users. These events have happened mainly in the economies without thrive projections. Innovation is the recipe for the financial markets which are ahead in the world. This blocking strategy, in my opinion, is just a form to gain time and handicap for controlling, of a convenient way, the virtual crypto market. We hope that the future rules conduct banks to be in the mood with cryptos as it is with its users nowadays.

syberwolfen

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Quote from: XCANA on January 11, 2018, 05:30:51 PM

To me, it looks like banks are trying to fight back at crypto currency because they loosing customers in recent time. So many people have invested their money in Bitcoin and other crypto currency which i believe is more beneficial to the owners as compared to insignificant interest that bank usually pay investors at the end of the months.

Yes when banks failed completely to stop the growth of bitcoin with all sort of negative light which it was shedding over bitcoin like bitcoin is used for terrorist funding as if there were no attacks before the invention of bitcoin and now bankers have started this new trick to prevent people from investing into bitcoin but it will ultimately fail.

XCANA

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To me, it looks like banks are trying to fight back at crypto currency because they loosing customers in recent time. So many people have invested their money in Bitcoin and other crypto currency which i believe is more beneficial to the owners as compared to insignificant interest that bank usually pay investors at the end of the months.

Ging

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indeed that is a reallity but ii think there a banks all arround the world that deals and accept bitcoin and other altcoin i dont have names know but such banks really exist.

weborsha

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it sounds like reasonable measures that banks try to take to prevent theirselves from bankrupcy. Banks cannot offer such a high income, if compare bank and crypto deposits.

MoonJeina

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With so many banks out there, it would be easy if you could mention the name of the bank or country where you are facing this problem. Despite that global news suggest that four major Australian banks have ignited this fire among its customers. Further users are unable to transfer money from exchanges like Coinbase, Coinspot, BTC Markets and so one, where on one side Australia was on the steps to regulate cryptocurrency and no on the other hand there banks are declaring it illegal have created confusions and imbalance in the system. A clear notice regarding such issues from banks and government can only lighten the tensions created by the banks.

Ayiranorea

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This is quite a shocking news, because in a recent news article one of the bank from Austria started to do every operation with bitcoin. Now a bank from Australia banning the account involved with bitcoin is simply a bad news. Maybe the ban will be taken back when Australian banks feel good of using bitcoin looking upon the growth happening with banks of Austria on accepting bitcoin.

gabbie2010

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Quote from: fabuloveu on January 05, 2018, 03:07:54 AM

Quote from: sirkings0003 on January 05, 2018, 12:36:22 AM

Quote from: coinmgnet on January 03, 2018, 06:28:37 PM

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

I was told that same thing is beginning to happen in Nigeria. But this will only complicate issues for them. Apart from legal battles the banks will subject to themselves, the cryptocurrency investors will always find alternative ways of dealing.

The CBN of Nigeria has already issued a notice to bank to closed all account related to crypto from day 1. Their fear is that there are many fraud in the crypto world and they dont want their customers to lose their money. Remember the MMM ponzi scam was the CBN case study. All they are is saying is that bitcoin is a ponzi scam.

The clamp down on crypto related account by CBN of Nigeria is unrealistic considering the fact that cryptocurrencies trading is legal and trust Nigerians traders they will find alternative means for there transactions that is the beauty of Cryptos "decentralization" the deals will be done anonymously.

cryptotitan

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This is just a normal move from the banks,fiats are getting fucked up by the crytocurrencies.

@ngelcryptopia

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Yes, this happened in Singapore where a major local bank stopped business relationship with coinhako, coinhako is similar to coinbase.

rejosh

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Quote from: 8count on January 03, 2018, 06:37:56 PM

I'm hearing the same, in Australia Westpac bank is apparently blocking accounts linked with cryptocurrency even thou they have also invested 75mill in Coinbase. Their is talk about a class action against them for anticompetitive practices as per section 45 of the competition and consumer act of Australia.
Interesting times ahead as the battle continues.

This is very interesting I hope us and EU won’t start this nonsense

Tidsdilatation

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Ive heard about it. Here in Sweden, to be able to transfer money you need to specify for what use the money will be used. If you mention bitcoin during this call you will be put on a list inside the bank. I can only guess what they will do with this list later on, maybe close our accounts or something?

nakamote

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Yes this very alarming,my friend's account was closed here in our country because the banks are started to get alarmed by BTC's price.

gustaf.berg

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Quote from: geyayy on January 05, 2018, 02:41:56 AM

Even in my country, and my friends are telling me that the banks are somewhat starting to block accounts that seems to be involved in crypto currencies. However, I am not having any problem in my account, I can still deposit and withdraw money from cryptocurrencies, the one I am converting my bitcoins.

This was very much expected move from banks actually. We all know that governments doesn't like blockchain because of the tax issues. banks will try their best to abonden you and me from blockchain world but of course they won't be able to succeed.

bamb

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cryptotsunami

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Quote from: coinmgnet on January 03, 2018, 06:28:37 PM

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

Almost everybody knows that it is happening specially if you are involve in trading or sig campaign. Every time you need money to pay bills , you ou have to cash out, if you have a bank account all you need is to transfer your converted into your account and suddenly those banks will give you a letter and interview you. Some of the banks will force close your account.

Hopeman1

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Quote from: coinmgnet on January 03, 2018, 06:28:37 PM

Am I the only one who heard that banks started blocking accounts of people that generated money via crypto trading or crypto investments?
The war Crypto vs Banks has begun?

I want to know which bank has restricted bitcoin transactions? I only know that China has limited the bank accounts of several large miners.

cryptopan

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I am from philippines some of the banks here are doing that,i suggest ask them in email first if whats their point of view with crypto and if they support it switch to them to protect your crypto assets.

Naoko

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Quote from: ClvrGmr on January 05, 2018, 04:10:15 AM

What you heard wasn't true. Banks maybe not a pro crypto but neither they are anti. Cryptos are too many, we can't be specific to it and bank is centralized. You can't go to war alone.

I agree...it can't be true, because the banks are centralized, as you said, and I don't think that they would have started such war, because it will end badly

Iyanu14

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There must be something more to it. An account been connected to crypto shouldn't be blocked since banks are also investing in it.

Topic: Banks blocking accounts related with crypto (Read 453 times)