Banks blocking accounts related with crypto - page 3.

benmartin613

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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?

There are some banks blocking peoples account when they are connected to crypto currency, because crypto currency is not regulated and they think that the money they deposit are from fraud or made via under ground deal like guns and drugs.

semobo

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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?

In my country nothing happens like that and crypto tradind is not a illegal business then why they are blocking the bank accounts.And they cannot do like this until we pay the taxes for bitcoin earnings to the government.If they do like that the you can file cases in the court because you are not doing anything illegal.

Alex Khvatov

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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?

Banks in some countries will be more conservative, that is true. But I think that there will not be some outright war between banks and crypto, since the smart banks will know that they will have to adapt in order to survive.

okissabam

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I’ve read topics about this but I really didn’t mind it that much. Was thinking why would they block accounts related with cryptos in the first place when they actually could benefit a lot from it. Imagine people putting money in their banks because of these crptocurrencies they are earning from. Or probably they hate it that much because it is decentralized for now and can’t control it.

happyme1818

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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?

It's already begun, those who have accounts that is related to cryptocurency are banned by some major banks across the globe. In the US there is a case where the bank force to close his account if he didn't tell where he get his income. In Europe there are many cases too. Even in Asia where you cannot open new account if your income came from cryptocurrency. They also force close the accounts that has a history of cryptocurrency related transactions. Same scenario in the continent of Africa.

airdrophunter

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I don't understand exactly why banks are blocking these accounts that are linked to cryptos. Do they hate cryptos because more of their clients are withdrawing money from their vault and invest it on cryptos? but how about those banks that backed Ripple (XRP) in their payments, exchanges and remittance, and other cross-border transactions? Do they have plans of blocking these accounts too?

linkybit

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Keep Working

Banks can't close accounts without a good reason.

kevoh

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More and more strict regulations of all that is related to cryptocurrency will be happening a lot this 2018. It's going to be a tough year for us - the users, we need to brace up. If you live in a country where your crypto related bank accounts have not been banned or blocked already or SEC prevents you from participating in ICOs then enjoy the ride for now.

bitcoinbox

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So far so good

Can a bank block or close an account without good reason? I have a doubt that the purchase or sale of crypto currencies appears in the general conditions of the contract that link us with the bank.

Crypington

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The first time I tried to buy on coinbase both Bank of America and Barclays “froze” my account. They eventually unfroze them after I called and verified the charge, but Barclays still would not allow the transaction to complete.

I’m not entirely convinced it is because they are scared of Cyrptos, though, they said there is too much fraud and scamming going on, and they keep having to eat charges.

RichardBTC

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I dont see how the banks would have any say in what income comes into your bank unless by government order? If this is true i really feel sorry for the countries affected, this will just promote the unorthodox methods of getting money out of crypto now

shaun98

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Yeah, I've been hearing of it too. Are they even allowed to that, if the country doesn't ban crypto? Cause there's no rule where you aren't allowed to buy crypto in most countries.

upisdown

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Well, In My country I have not seen any such examples. I just want to clarify one thing at this point, the medium from which you get your conversation from crypto, make sure it pays tax to the governments then the banks has no right to stop your crypto money into your local currency

Jeepney_koh

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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 already predicted that before. Now it is happening in the real world. They are banning cryptos because it is affecting there business now. Banks lends big businesses in which they gain a lot of profit. Because of crypto, many people are investing in it and the profit is directly given to them. Instead of putting their money in the bank for savings, they are withdrawing them for cyrpto investment and its a big loss to banks.

The Matrix

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Quote from: GrannyC on January 03, 2018, 08:05:47 PM

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?

In general, regulations are becoming more troublesome at least in Europe. Under the money laundering prevention measures many people who have totally legit activities have to undergo heavy bureaucracy for silly things and risk blocked accounts.

Yes also in EU. Here in Denmark several of the biggest bank declines to recieve money earned from crypto. People are changing their banks to other and smaller banks that are crypto friendly and also people are ordering credit card like Bitpay, Tenx, Wirex and Monaco cards. I guess the banks all over the world are reacting to the threat that crypto obviously is to their business. I guess peoples creativity always will be a step further than those who resist change and try control and manipulate society. Quite alarming that this happens all over the world. But things will change for the better. It´s just scared banksters trying to protect their lousy business as usual.

Febo

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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?

That is happening for past 7 years. What you should do? Thank them for pleasant time you had with them and pick up new bank that is crypto friendly. Now are way more then were 7 years ago.

Acguy

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This actually started way back and is still continuing to happen due to not knowing the origin of where the currency came from.

karungbitcoin

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In my country Indonesia also Bitcoin and others cryptocurrency not regulated yet and now become issue. But at the moment all transaction between fiat money with crypto going smothly. I hope my country will regulated Bitcoin and others cryptocurrency like Japan because crypto really help many poor people in here.

sic_null

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i keep hearing about it but have only seen one actual photo showing proof.

With all the banks around, just switch to a new one. Problem solved Wink

Schirer

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I heard about Australia, madness!
I understand that banks could block accounts associated with exchanges since in most areas they need financial license's but regular traders, this is just madness , i hope they will lose when that get sued.

Topic: Banks blocking accounts related with crypto - page 3. (Read 453 times)