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Author Topic: No more UK deposits on blockchain.info - anything to worry about?  (Read 2960 times)
TsuyokuNaritai
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March 29, 2013, 03:35:24 AM
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https://twitter.com/blockchain/status/317390709026066434

http://www.reddit.com/r/Bitcoin/comments/1b7bxh/no_more_uk_deposits_on_blockchaininfo/

Lots of comments made asking why but apparently no response. Already bought BTCs are still there.

Does anyone know if this is anything from the UK authorities, or that might affect other exchanges, or is it just a specific thing with blockchain?

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March 29, 2013, 03:37:51 AM
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Looks like banking troubles. Blockchain.info recently raised their maximum deposit to 500 GBP. They may have run into similar banking issues as Mt Gox and Intersango once did. It may have something to do with AML, but I don't know for sure.

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March 29, 2013, 06:33:13 AM
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i have seen when a mega price dump happens they turn off selling coins or put a warning that their stocks are low. after all why sell coins at a loss

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March 29, 2013, 09:25:04 AM
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https://twitter.com/blockchain/status/317390709026066434

http://www.reddit.com/r/Bitcoin/comments/1b7bxh/no_more_uk_deposits_on_blockchaininfo/

Lots of comments made asking why but apparently no response. Already bought BTCs are still there.

Does anyone know if this is anything from the UK authorities, or that might affect other exchanges, or is it just a specific thing with blockchain?

If it's not the authorities this time you can be sure that it won't be long before a collection of governments and banks will try to prevent people from transferring money to BTC exchanges. It is only a matter of time before there will be a run on banks and when that happens of course the governments will try to stop the inevitable because they own/are owned by the banks.

When this happens smaller time money exchangers at localbitcoin, banks in dodgy tax havens and ripple will be the name of the game.

In effect that would be great for BTC because it will facilitate it to stop being valued in dollars and it will finally get a value of its own (of course most people here knows it in reality already has this (ridiculously high) value not represented by the cheap price in dollar terms).
TsuyokuNaritai
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March 29, 2013, 04:03:05 PM
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Someone just posted this: (http://www.reddit.com/r/BitcoinUK/comments/1b8w9x/why_blockchain_stopped_accepting_uk_deposits/)

Quote
Just saw on their twitter a tweet, now deleted, that said in response to why they were no longer accepting UK bank transfers - 'Banks, VAT, fraud'.

puik has been online recently and posting, but I can't see any word from him to anyone on this. He knows people are asking, I sent a message to him about 10 hours ago:

Quote
Hi,

Please would it be possible to make it known why UK deposits are no longer being accepted? A lot of people on Reddit have been asking, and if it's nothing we should be worried about then letting people know would hopefully ease concerns.

There's a post and a link to the reddit thread here:

https://bitcointalk.org/index.php?topic=160555

Thanks.



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March 29, 2013, 05:43:06 PM
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I sent a support query asking when it would be available again, which has sat without reply... would be nice to know.
moni3z
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March 29, 2013, 09:29:22 PM
 #7

UK is even worse than the US for regulations when trying to accept payments. You have to be a locally registered business paying obscene VAT in order to take cash deposits, and fraud is rampant with all those Loyalbank and Barclay's botnet accounts floating around so forget about CHAPS and FPS payments.

I applied to a UK payment gateway that did cash deposits, was accepted and then the first day somebody deposited just 200GBP they seized the account and held the funds pending DNA, fingerprinting, invoices to prove where the payment came from ect. It's a financial police state now. I refunded the guy and money is still frozen. Will never deal with the UK again unless they're sending me a traditional bank wire transfer, which is unfortunately highway robbery in the UK as well with banks charging percentages of transfers instead of a flat fee

edit.. also note today is a holiday almost everywhere so don't expect a reply today
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