Topic: Cryptocurrency companies still can’t open bank accounts - page 7. (Read 1004 times)
Despite the fact that they see the cryptocurrency industry as an enemy to their system and they don't want to help it cultivate, they are afraid of Money Laundering. If they allow to crypto companies to open bank accounts freely then there will be a problem as companies may have a different rssidential location from the location of the bank account that they are going to open.
Actually bank don't really like bitcoin, for cryptocurrency companies open bank accounts is a big deal. But there are some bank in netherland called Bunq and ING that open cryptocurrency businesses, while in germany atleast there are three banks that good for cryptocurrency companies which called VPE bank, Fidor bank and commerzbank. Although most of banks are not ready to deal with unregulated currencies but when many people use cryptocurrency then those bank will adapt with that condition.
Despite the increasing legitimate cryptocurrency uses, its continued association with illicit activities and anti-money laundering compliance costs makes banking for cryptocurrency companies hard.
Read more here: https://www.unblock.news/news/cryptocurrency-companies-cant-open-bank-accounts
Read more here: https://www.unblock.news/news/cryptocurrency-companies-cant-open-bank-accounts
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