[Binance has said that intends to apply for an FSA license, but the fact that it expanded its operations into this jurisdiction without regulatory approval could attract more scrutiny to the company’s application]

https://www.ccn.com/cryptocurrency-exchange-binance-facing-regulatory-pressure-in-japan-report/

Japan’s top securities regulator will warn cryptocurrency exchange Binance that it must cease operating in the country without a license or face enforcement action.

Citing a person familiar with the matter, Nikkei reports that Japan’s Financial Services Agency (FSA) will issue a formal warning to Binance, which has allegedly begun expanding operations into Japan without permission from the regulatory agency.

Headquartered in Hong Kong and bootstrapped through an initial coin offering (ICO) last year, Binance has quickly emerged as one of the world’s most popular cryptocurrency exchanges. At present, Binance ranks as the world’s largest cryptocurrency trading platform, with a 24-hour volume of nearly $1.9 billion.

Binance has its own utility token — BNB — and the exchange operator has announced that it has begun development on its own public blockchain, which will be used as the foundation for a decentralized exchange (DEX). The BNB price fell by approximately 10 percent from its intraday high following the initial report, although its 24-hour performance is still in positive territory.

Binance has said that intends to apply for an FSA license, but the fact that it expanded its operations into this jurisdiction without regulatory approval could attract more scrutiny to the company’s application.

1. I'd accept that crypto is here to stay and not fight it

2. I'd develop an online wallet service for my account holders. So say Joe Bloggs has a current account and savings account with me. I'd offer to allow him to set up an online cryptocurrency wallet with me as well, linked to his current account. I'd market this as a cryptocurrency savings account. If Joe Bloggs wanted to cash out some of his crypto savings, I'd allow him to sell at the click of a button, with the cash appearing in his current account to use.

3. I'd set up merchant services, so merchants could accept payments in cryptocurrency, bypassing VISA. I'd make sure my fees were lower than VISA's to encourage take up. I'd contact all my existing business customers to alert them to this new service.

4. If I was an international bank I'd move money around internationally between branches using cryptocurrency in order to avoid SWIFT and their fees.

5. I'd offer cryptocurrency loans at competitive interest rates to my best customers.

I'd be making money hand over fist by embracing this brave new world while my competitors were not.

So why arn't the banks doing this? They can save a huge amount by cutting VISA out of the picture. So are they just slow/dinosaurs who can't see the potential profit here?

https://crypto-lines.com/2018/02/12/helping-cryptocurrencies-thrive-in-europe/?utm_source=pushengage&utm_medium=push_notification&utm_campaign=pushengage

As large financial institutions fight cryptos, small banks are helping cryptocurrencies thrive in Europe. Many large banks around the world have opted to take a tough stance against the purchase of Bitcoin and other cryptocurrencies. This move has helped fuel FUD around the crypto community but a few small banks in Europe have opted to act in contrary to this and instead they are offering their investors access to cryptos without major hurdles with some also offering advice on ICOs.

The banks that are helping cryptocurrencies thrive in Europe include Falcon Bank and Vontobel, both swiss based. They are joined by Germany’s Fidor Bank and Liechtenstein’s Bank Frick in providing such services.

It’s interesting how currently the banking system is fractured. Due to their volatility, many major banks have opposed cryptocurrencies purchases and this is something that has been expected. Add the fact that they offer a direct threat to the existence of these institutions and you see why these large banks are not big fans of cryptos.

Speaking with the financial times, Edi Wögerer, chief executive of Bank Frick said;

“There are risks involved but there are also really big opportunities, we know what to do from a security perspective, so this is a big opportunity for banks like us.”

I believe Kraken uses Fidor bank which has also opened a branch in the UK. Here is some more info about Fidor in the UK:

https://www.moneysavingexpert.com/news/banking/2015/09/challenger-bank-fidor-launches-in-the-uk-today-but-how-good-is-it

We should support these banks by opening accounts in them (which will also mean that it's unlikely that your account will get closed due to receiving money from an exchange).

Does anyone know of other crypto-friendly banks around the world?