Do we know why they are closing the bank accounts?
I can understand them cracking down on people using bitcoin to evade taxes, move criminal money, pay terrorists or other illegal activity. I do not believe they close accounts because they are bitcoin accosiated.
I can understand them cracking down on people using bitcoin to evade taxes, move criminal money, pay terrorists or other illegal activity. I do not believe they close accounts because they are bitcoin accosiated.
If you're talking about China, I don't think money laundry or "terrorists" are a concern. That's American thinking.
Banks everywhere would be happier if Bitcoin just went away. It represents a threat and competition to their principal business.
Perhaps you should start believing that banks will close accounts because they are Bitcoin associated.
It's not individuals involved in Bitcoin who are having their accounts closed. It's businesses involved in Bitcoin infrastructure, like exchanges, payment providers, invoicing companies, etc., that are having their accounts closed and services suspended.
Last spring, I could deposit fiat to my Virtex account through several banks and be buying bitcoins within hours. One by one they stopped doing business with Virtex. By last fall the only feasible way to deposit into Virtex was by making online bill payments through online invoicing company Vogogo.That lasted a few short months before I was not surprised to see that CIBC had removed Vogogo from my list of registered bills. When I checked my payment history, I found Vogogo marked "Do not use Vogogo".
Thank heavens for the wonderful individuals who sell for 5% over spot price (cash) at the local Bitcoin hangout. The banks can screw themselves.
is that sarcasm?
Doesn't read as sarcasm. He's basically saying "Where there's a will there's a way". In other words: Bitcoin's going to find a way to succeed in China regardless of what the banks do. So, effectively, your misleading titles and China FUD is useless, and as such, you should find another hobby.
