Bitcoin Forum

HSBC severs links with firm behind Bitcoin fund

HSBC has severed ties with the firm behind the world's first regulated Bitcoin investment fund.

Jersey-based hedge fund Global Advisors (GA) claims the bank was worried about "money laundering risk".

GA's Daniel Masters told the BBC that the development threatens well publicised plans to make Jersey a global centre for digital currencies.

http://www.bbc.com/news/world-europe-jersey-30261976

lol thats funny coming from HSBC, the truth is they are corrupt and worried about losing manipulation abilities.

fuk HSBC, shite bank anyway ;D

HSBC.....what a f*cking joke.

http://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214

"Gangster Bankers: Too Big to Jail - How HSBC hooked up with drug traffickers and terrorists. And got away with it"

http://mobile.bloomberg.com/news/2013-07-02/hsbc-judge-approves-1-9b-drug-money-laundering-accord.html

You mean they are worried about someone else eating into their lucrative money laundering activities. :D

Haters Shitting on BitCoin.

Why would one bank's actions threaten plans to make Jersey a global centre for digital currencies? We do have a list of Bitcoin friendly and Bitcoin hostile banks. I guess one bank can make this a selling point - we are not averse to doing business with Bitcoin companies. Once the bitcoin economy grows and banks see what they are missing, I am sure they will start queueing up to open accounts for bitcoin companies.

HSBC has been closing bitcoin related accounts for years.
Hopefully that mistake will cost them in the future, even if don't doubt that the day BTC becomes totally mainstream and they adopt it everyone will salute them...

http://www.coindesk.com/bitcoin-fund-manager-faces-hsbc-account-closure/

Hahahaha. Literally laughed out loud at that. Got to be a joke.

http://mobile.wnd.com/2012/05/banking-giant-hsbc-a-criminal-enterprise/

Hypocrites. Frankly the bitcoin world is better off without them.

I had a good laugh, considering all the times I have heard the HSBC working with Wall Street Firms on some shady deal or other then the SEC coming out and charging them a fine later lol.

when i first set up my kraken account, i initially tried to use my HSBC account.
HSBC refused all money that i sent from kraken. I now use my other bank.

even better, close your HSBC account!
when I had one, any local transfer to or from another bank was charged!
between any other bank, to or from, its free, where I live, they are hugely profiting from their dominant position...

We don't need them, the fact is, the more people the banks shut out with their policies and corruption, the more they'll turn to cryptocurrencies instead, this whole idea that we 'need' regulation is just something beauracrats and politicians make up to seem relevant.