[2015-07-19]Can Buy Bitcoin! ING Retracts Its Statement on Twitter

[kori]

As the popularity of bitcoin increased, it started appearing as a threat to conventional banking industry. The threat combined with lack of clarity regarding bitcoin regulations has got many banks across the world refusing their services to bitcoin based businesses and bitcoin users. As the bitcoin adoption has still not crossed the threshold, people are forced to use traditional banking services to complement their bitcoin transactions.

There have been many instances in the past where banks have frozen their customers’ bank accounts for dealing with bitcoin. Even many bitcoin companies have been refused service by banks across the world, while those with existing accounts were forced to look for other bankers. These instances have bred scepticism among bitcoin community regarding traditional banking sector.


read full article @http://www.newsbtc.com/2015/07/19/can-buy-bitcoin-ing-retracts-its-statement-on-twitter/

[GamingOn]

Interesting... Banks will be replaced which is why they are freezing accounts holding onto the last ounce of power they have that is quickly fading.

[MF Doom]

Interesting... Banks will be replaced which is why they are freezing accounts holding onto the last ounce of power they have that is quickly fading.

Yet people still have some sort of trust in these institutions.  I think its pretty clear they do not care for the freewill of their customers.  Similar to how the us govt is not concerned with the wishes of its people.  No one wants to be spied on, told who they have to conduct business with, or what they can and cant buy.  I am surprised to not see more btc "hit pieces" coming from these banks.  Most everything I've seen them publish so far has been fairly restrained.

[gogxmagog]

these flip-flop contradictory statements from these big banks only proves they dont have any idea about what to do about bitcoin.
they have realized that it isn't going away and that they cant stop it or ignore it, but they do not have a solid plan of action.
No ripple clone will save them either.
It will be a few more rough years with stories about bitcoiners getting shoved around by the banks before people realize it is the banks trying to kill our freedom and not that bitcoin is this big bad thing.
these banks keep acting like they are threatened is great for bitcoin. the big bullies are starting to get their comeuppance.

[MF Doom]

these flip-flop contradictory statements from these big banks only proves they dont have any idea about what to do about bitcoin.
they have realized that it isn't going away and that they cant stop it or ignore it, but they do not have a solid plan of action.
No ripple clone will save them either.
It will be a few more rough years with stories about bitcoiners getting shoved around by the banks before people realize it is the banks trying to kill our freedom and not that bitcoin is this big bad thing.
these banks keep acting like they are threatened is great for bitcoin. the big bullies are starting to get their comeuppance.

And hopefully by then btc users won't need to go back and forth between fiat and btc. That should be the ultimate goal, and then the big banks would have nothing to hold Over their customers heads. Ultimately that could happen in a few years.

[aso118]

Interesting... Banks will be replaced which is why they are freezing accounts holding onto the last ounce of power they have that is quickly fading.

Most banks aren't really concerned about Bitcoin being competition to them. What they are really worried about is money launderers using bitcoin, and routing those funds through their banks. They will be made to pay stiff fines if laundered funds pass through them and they don't detect it,
Good to see that ING isn't worried and has proper processes in place.

[TraderTimm]

Interesting... Banks will be replaced which is why they are freezing accounts holding onto the last ounce of power they have that is quickly fading.

Most banks aren't really concerned about Bitcoin being competition to them. What they are really worried about is money launderers using bitcoin, and routing those funds through their banks. They will be made to pay stiff fines if laundered funds pass through them and they don't detect it,
Good to see that ING isn't worried and has proper processes in place.

Banks could give a toss about laundering.

Sure, on paper they're supposed to be on the lookout, but when banking giants like HSBC launder billions and get a slap on the wrist, the REAL message is "go ahead, but don't get caught". The real point of any bank reporting people is a system of control. If you're a multi-national pushing millions per day through the system, the bank could give a crap. If you're joe blow, woah, hold on there - the bank didn't say you could do what you want with YOUR money, you peasant.