That's interesting. I never realized that banks would actually just close up to a organization because they were dealing with bitcoin. Are they often because of bitcoins shady uses? Or is it some government regulation? Or were they simply not following proper tax/banking practices?
The annoying part is that the bank can close your account without giving you actual reasons, at least in case of private accounts. Usually they'd freeze the funds first due to 'suspicious activity' and then, even know there wasn't anything wrong, they'd decide to close it.
A lot of banks are paranoid of money laundering. If you are laundering money, they could face some stiff fines if there are any indications that they knew, or were suspicious, that you were laundering money. Everyone knows that Bitcoin is simply a vehicle for money laundering and other illegal activity. It's in all the papers.
Edit: For those who are humor impaired, the last part of my statement about Bitcoin being a vehicle for money laundering and other illegal activity was sarcasm. I didn't mean to raise anybody's blood pressure.
Don't be afraid, you are just telling the truth, 99% of bitcoin use are money laundering and other illegal activities. i back you up.
LOL.
ANd to add to it, my guess that itBit wants a banks license in New York is to allow big players of the Bitcoin scene to "move" their money.
AFAIK a lot of banks is U.S. close accounts of people that are involved with Bitcoin.
