Banks blocking accounts related with crypto - page 4.

GrannyC

member

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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 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.

cryptowhatnow

newbie

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anyone heard about banks doing this in the EU?

TheAlchemist

full member

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Oh, it looks like people started to take their money from banks and carry them to the crypto currency market. Of course, banks calculate the losses and want to keep some of their investments with their bans. I do not think that this will make any sense in the long run. Since there are other ways to withdraw money. And banks will lose even this small percentage of transactions.

DroidR17A

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Seems like it's just the Aussie banks: http://www.smh.com.au/business/bitcoin-tensions-rise-as-investors-claim-banks-freezing-their-accounts-20171229-p4yy3z.html

It's interesting to see the financial institutions trying to block cryptos, when the Aussie government is awarding contracts to crypto companies like PowerLedger.

I guess the banks are in a hurry to speed up their demise.

makishart

legendary

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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?

this case already happened with bitfinex, how the banks are blocking their account to receive wire transaction from the users. But this word will be suitable for those bankers. They hate it but they need it. In that case the operation of the bitfinex backs to the normal again.

8count

full member

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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.

coinmgnet

member

Activity: 126

Merit: 10

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?

Topic: Banks blocking accounts related with crypto - page 4. (Read 453 times)